If you’re looking to buy or sell a house in Rochester, NY, you may be experiencing the same challenges as homeowners across the country. The housing market has been plagued by a shortage of homes for sale, and sellers are increasingly hesitant to put their homes on the
market. According to a recent survey by Realtor.com, the top concern among sellers is finding a new home before selling their current residence. This concern is fueled by the high mortgage rates, which require a larger down payment to lower monthly payments.
Homeowners who would have traded up into larger or nicer homes or downsized into smaller ones have been reluctant to sell due to their record-low mortgage rates. In April, this has resulted in a 22.5% drop in new single-family home and condo/townhomes listings for sale in Monroe County compared to 2022, exacerbating the housing shortage.
In short, the current housing market in Rochester, NY, and across the country is challenging for both buyers and sellers. Homeowner looking to sell their homes face a shortage of homes for sale, high mortgage rates, and high costs associated with repairs and getting their homes ready for the market. However, the experienced team of real estate agents at Sharon Quataert Realty can help navigate these challenges. With years of experience in the ever-changing Rochester, NY real estate market, our team is skilled, well-connected, and uses marketing to our full advantage to help our homebuyers and sellers alike achieve their real estate goals. We work tirelessly to ensure our clients find the perfect new home before listing their current residence, so nobody ends up homeless! Contact us today to learn more about how we can help you navigate the challenging (yet rewarding) housing market. Call or text us at (585) 900-1111 or email us at [email protected]!