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From a seller's perspective, lower mortgage rates can serve as a catalyst for improved market activity. When rates fall below certain thresholds—particularly below 6%—more sellers become motivated to list their homes, seeing the potential for increased buyer interest and quicker sales.
LaRose emphasizes that the typical belief among sellers is that interest rates exceeding 2% are high, which discourages listing. However, as rates decrease and homes continue to sell, motivation to list rises, potentially leading to more inventory in the coming months. Sellers planning to list within the next one or two years are likely to respond positively to lower rates, especially if they observe similar activity in their neighborhoods.