If you've been watching the news lately, you've probably heard that inflation is moving in the wrong direction again. While that may sound concerning, it's important to understand what it actually
The Top Reasons for Selling Your House.
Dated: February 6 2023
Views: 57
The Top Reasons for Selling Your House
Many of today’s homeowners bought or refinanced their homes during the pandemic when mortgage rates were at history-making lows. Since rates doubled in 2022, some of those homeowners put their plans to move on hold, not wanting to lose the low mortgage rate they have on their current house. And while today’s rates have started coming down from last year’s peak, they’re still higher than they were a couple of years ago.
Today, 93% of outstanding mortgages have a rate at or below 6%. That means a strong majority of homeowners with mortgages have a rate below what they’d get if they moved right now. But if you’re a homeowner in that position, remember that mortgage rates aren’t the only thing to consider when making a move. Your mortgage rate is important, but there are plenty of reasons you may still need or want to move. RealTrends explains:
“Sellers who don’t have to move won’t be moving. The most common sellers will be: Homeowners downsizing . . . people moving to get more space, [households] looking for better schools…etc.”
So, if you’re on the fence about selling your house, consider the other reasons homeowners are choosing to make a move. A recent report from the National Association of Realtors (NAR) breaks down why homeowners have decided to sell over the past year:
As the visual shows, the most commonly cited reasons for selling were the desire to move closer to loved ones, followed by moving due to retirement, and their neighborhood becoming less desirable. Additionally, the need for more space factored in, as did a change in household structure.
If you also find yourself wanting a change in location or needing space your current house just can’t provide, it may be time to sell.
What you want and need in a home can be reason enough to move. To find out what’s right for you, work with a trusted real estate professional who will offer advice and expert guidance throughout the process. They’ll be able to lay out all your options – giving you what you need to make a confident decision.
Bottom Line
When deciding whether or not to move, you have a lot to consider. There are plenty of non-financial reasons to factor in. Let’s connect today to weigh the benefits of selling your house.
Dana M Varricchio
As a lifelong resident of Long Island’s South Shore, Dana possesses an intimate knowledge of the area’s charm and diversity. With over 22 years of real estate expertise, she pairs her deep....
Latest Blog Posts
The Mid-Year Housing Market Update: Why Forecasts Changed in 2026If the Long Island housing market feels a little confusing right now, you're not imagining it.Many buyers entered 2026 expecting
Less House, More Home: Why Smaller Homes Are Paying Off for Today’s BuyersLess House, More Home: Why Smaller Homes Are Paying Off for Long Island BuyersIf you've been searching for a home on
You may be telling yourself you're going to wait to move. Maybe you're hoping mortgage rates will come down, prices will soften, or the market will feel a little less competitive.A lot of people
OneKey® MLS required Copyright, Source of Data and Disclaimer for IDX display
Information Copyright 2026, OneKey® MLS. All Rights Reserved.
The source of the displayed data is either the property owner or public record provided by non-governmental third parties. It is believed to be reliable but not guaranteed. This information is provided exclusively for consumers' personal, non-commercial use.
The data relating to real estate for sale on this website comes in part from the
