Are buyers still buying?

[Anonymous]

They just want a better price and an inspection? Or they are just not buying at all now? We listed yesterday and I’m very nervous.

[Anonymous]

Depends entirely on what you are listing and where

[Anonymous]

We are putting off our purchase for at least six months (could wait up to 2ish years) unless the perfect house comes up at a fair price. We rent now - great home, excellent N Arlington neighborhood, our landlord is not raising our (very below marker) rent and is giving us lots of flexibility in our lease so we can still casually look. But our thinking is “why buy now with both high prices and significantly higher rates?” People I know either found something in the last 18 months or are stepping back, like us. We are looking in close-in VA around $1M.

Has there been much interest in your home? It seems like the market has cooled tremendously in just the last month.

[Anonymous]

We are currently under contract. Managed to lock in a decent rate last week (4.25 no points on a jumbo). Nervous about listing our house next month but it is in a really desirable neighborhood.

[Anonymous]

Anonymous wrote:We are putting off our purchase for at least six months (could wait up to 2ish years) unless the perfect house comes up at a fair price. We rent now - great home, excellent N Arlington neighborhood, our landlord is not raising our (very below marker) rent and is giving us lots of flexibility in our lease so we can still casually look. But our thinking is “why buy now with both high prices and significantly higher rates?” People I know either found something in the last 18 months or are stepping back, like us. We are looking in close-in VA around $1M.

Has there been much interest in your home? It seems like the market has cooled tremendously in just the last month.

We are in the same boat.

[Anonymous]

Anonymous wrote:We are currently under contract. Managed to lock in a decent rate last week (4.25 no points on a jumbo). Nervous about listing our house next month but it is in a really desirable neighborhood.

Who is your lender and how did you get that rate?

[Anonymous]

Went to 8 open houses last weekend in Arlington. All SFHs. It was dead at all but one of them (that one is pending; the others are all still for sale). Seems like buyers have vanished. I am taking a pause for a few months because prices are still at their peak, and rates are higher than anytime in recent history.

[Anonymous]

Anonymous wrote:We are currently under contract. Managed to lock in a decent rate last week (4.25 no points on a jumbo). Nervous about listing our house next month but it is in a really desirable neighborhood.

4.25 no points on a jumbo = great great deal historically. LAST 2 YEARS WERE AN ANOMOLY.

[Anonymous]

Anonymous wrote:Went to 8 open houses last weekend in Arlington. All SFHs. It was dead at all but one of them (that one is pending; the others are all still for sale). Seems like buyers have vanished. I am taking a pause for a few months because prices are still at their peak, and rates are higher than anytime in recent history.

and the Fed will raise rates again next month.

[Anonymous]

Anonymous wrote:We are putting off our purchase for at least six months (could wait up to 2ish years) unless the perfect house comes up at a fair price. We rent now - great home, excellent N Arlington neighborhood, our landlord is not raising our (very below marker) rent and is giving us lots of flexibility in our lease so we can still casually look. But our thinking is “why buy now with both high prices and significantly higher rates?” People I know either found something in the last 18 months or are stepping back, like us. We are looking in close-in VA around $1M.

Has there been much interest in your home? It seems like the market has cooled tremendously in just the last month.

1mn sfh in close in VA? You will never find it so sure you can afford to wait.

[Anonymous]

Very little buying in the outer NOVA suburbs and maybe an anomaly, but a ton of inventory flooded the market for this weekend. A lot of it seemed rushed- several without photos and one listing said new HVAC to be installed at the end of the month- I just thought it was odd to list before finishing that unless someone's desperate to cash out.

[Anonymous]

All these waiting buyers will find themselves in bidding wars once the market heats up again at even higher price range.

[Anonymous]

Anonymous wrote:All these waiting buyers will find themselves in bidding wars once the market heats up again at even higher price range.

When do you think this will happen? Not being snarky. But realizing that there are no guarantees, when does everyone *think* this will happen? I am asking because we need to sell. We are building in another state. The house won't be ready until Feb 2023. My husband wants to sell now and then rent in the new location for a few months. I prefer to stay in our current house, and sell early in spring 2023. I am not sure what is better for us as sellers. We are in a popular location in Loudoun Co.

[Anonymous]

We liv in falls church, the market is still hot, hot, hot with bidding wars.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We are putting off our purchase for at least six months (could wait up to 2ish years) unless the perfect house comes up at a fair price. We rent now - great home, excellent N Arlington neighborhood, our landlord is not raising our (very below marker) rent and is giving us lots of flexibility in our lease so we can still casually look. But our thinking is “why buy now with both high prices and significantly higher rates?” People I know either found something in the last 18 months or are stepping back, like us. We are looking in close-in VA around $1M.

Has there been much interest in your home? It seems like the market has cooled tremendously in just the last month.

1mn sfh in close in VA? You will never find it so sure you can afford to wait.

What an odd, and completely false, thing to claim. There are currently 162 matches in my MLS portal that meet my search parameters for a SFH inside the Beltway. Back in February that number hovered around 40-60 most weeks. Inventory is jumping - so thanks, I will hang tight!