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Making a Move Work
Greetings!
Today’s higher-rate housing market can make moving feel complicated, especially for homeowners who already have a mortgage well below current levels. Freddie Mac’s latest survey put the average 30-year fixed mortgage at 7.28%, making the idea of trading a lower payment for a higher one understandably undesirable. But many longtime homeowners also have something working strongly in their favor: equity.
The National Association of Realtors’ 2025 Profile of Home Buyers and Sellers shows just how valuable that equity can be. The typical seller had owned a home for a record 11 years, giving property values plenty of time to grow. In just the last five years, homeowners gained an average of $140,900 in housing wealth. That gave many repeat buyers considerably more flexibility: their median down payment was 23%, nearly one in three paid cash, and more than half used money from the sale of their previous home toward their next purchase.
Having substantial equity can create options. A larger down payment can reduce the amount financed and lower the monthly payment. Depending on their circumstances, some homeowners may also use a bridge loan or home-equity line to buy their next home before the current one closes.
Buyers may also be getting a little more breathing room from the increase in homes for sale. In August, the supply of existing homes reached 1.62 million which is equal to 4.9 months of supply—the highest level in more than a decade. NAR Chief Economist Lawrence Yun noted that the added inventory is “giving homebuyers better opportunities to negotiate.”
More Ways to Make it Work
That extra negotiating room can create opportunities for both buyers and sellers. Buyers may be able to negotiate on price, repairs, closing costs, or financing incentives. Sellers, meanwhile, may be able to attract qualified buyers by offering concessions or contributing toward a temporary or permanent mortgage-rate buydown.
There may be other financing options worth exploring as well. For some borrowers, an adjustable-rate mortgage can offer a lower initial rate than a traditional fixed-rate loan. Buyers can also focus on negotiating the best price and terms today, knowing that they may have an opportunity to refinance later if rates eventually come down.
For sellers, realistic pricing and flexibility can improve the chances of getting a deal done. For buyers, looking at different ways to finance the purchase can sometimes turn a home that initially seems out of reach into one that is workable.
Professional Guidance Matters
With more pieces to consider, having experienced professionals on your side can make the process easier. A knowledgeable real estate professional can help with pricing, negotiations, timing and the many details involved in buying or selling a home. A lender can help buyers understand which financing options may fit their situation and what the monthly payments could look like.
Higher rates may change the numbers, but they don’t necessarily mean a move is off the table. If you’re thinking about buying, selling, or both, we’re here to help you understand the options and find an approach that works for you.
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