Many Homeowners Are Not Motivated To Sell Their Homes And Do Not Anticipate Being So Motivated Anytime Soon

Over the past five-ish years we were all living in a world of rapidly rising home prices, a fast moving real estate market and super low mortgage interest rates.

Thus, if you owned a home but saw another home hit the market for sale that tickled your fancy, you might very well decide to sell your home.  After all...

[1]  Your home was worth a good bit more than it was last year or a few years ago.

[2]  You were certain to be able to secure a contract on your home very quickly.

[3]  Your new mortgage payment would be oh, so low given 3% - 4% mortgage interest rates.

But...  some of these factors have changed now, though admittedly, some have not...

[1]  Your home is still likely worth a good bit more than it was last year or a few years ago.

[2]  Your home still relatively likely to go under contract quickly, though that is not the case for all homes any longer.

[3]  Your new mortgage payment will be oh... so... high !?! given mortgage interest rates above 6%.

That last point... the potential housing payment for your new place if you decide to sell... is what is keeping many homeowners right where they are.

Most homeowners are not very motivated to sell their homes right now -- because of their current low mortgage interest rate compared to the much higher rate if they sold and bought today -- and that low motivation level to sell does not seem positioned to change anytime soon.