Here are 4 tips for selling your home when mortgage rates top 7%

Key Points:

• The housing market faces a standoff this fall as buyers are deterred by 7% mortgage interest rates, while sellers are unwilling to lower prices, leading to a 17% drop in newly pending home listings in October, the lowest since 2018.
• Mortgage rates have remained above 7% since late 2025, significantly reducing buyers' purchasing power compared to early 2026 when rates briefly dipped below 6%, causing many potential buyers to hesitate or wait for rates to fall.
• Experts advise sellers to be flexible on pricing, as many are anchored to unrealistic price expectations based on past market highs, which contributes to slower sales and longer time on the market.
• Sellers should avoid listing homes that require major repairs or renovations and instead focus on affordable fixes and staging to attract buyers who are more price-sensitive and less tolerant of deferred maintenance.
• Patience is crucial for sellers in the current market; some homes may take longer to sell due to unique or less desirable features, and sellers should be prepared to negotiate with buyers to keep deals on track.