TO THE FENCE SITTING BUYERS AND SELLERS
As one is sitting at home wondering if this is the right time to sell your home or is it the right time to buy a home, I thought I would give you something to look at as you are pondering what to do.
FOR SELLERS:
The days where you can put your home on the market and expect 10 different offers within hours and some for cash and over listing price, are gone. As a seller, you need to forget about those days and look at what is happening currently in your area. Currently in the Albuquerque area the Days on Market for a home is about 34+ days and this is 17.8% higher than a year ago. The supply of homes for a buyer to look at is now 2.6 months and this is up 29% from a year ago. This means a buyer has more homes to look at and with interest rates staying in the high 6%, buyers are being much more careful on what they will be spending their money on. So, for a seller, you need to look how to make your home stand out, and get with a realtor (like me) to work out how you can help a buyer purchase your home, yet still get what your home is worth. We are in more of a buyer’s market than a seller’s market.
FOR BUYERS:
Mortgage rates are notoriously difficult to forecast precisely for any lender. They’re influenced by inflation, Federal Reserve policy, economic data, bond yields, and housing market dynamics.
Still, consensus from reputable forecasters places late summer 2026 30-year mortgage rates in the high-5% to mid-6% range, with ~6.0% as a reasonable baseline assumption.
Some analysts see modest relief by then, a return to rates significantly below 5% is considered unlikely in this timeframe. By late summer 2026, it is looking like mortgage rates will be hanging out in the low-6% range—maybe even sneaking into the high-5s if the economy plays nice. But not the 3% “good old days,” but definitely more friendly than the 7% rollercoaster we’ve been on. Think of it as swapping a double espresso for a latte—still strong, but a little easier to swallow. There is nothing wrong with 6% especially if you can buy-down into the mid-5s!
So, for buyers on the fence, if the home fits your needs and budget today, that’s the right time to buy. You can’t refinance a missed opportunity! Waiting for a perfect interest rate is risky—prices could climb, inventory could shrink, and competition could heat up. You can always adjust your mortgage later if Rates improve, but you can’t go back in time and snag the home you passed up. Focus on the right property, not the perfect rate. Buy when the home fits your life, not when the headlines say so.
I hope the above has helped you get “off the fence” of buying or selling, even if you now see this is not the right time to buy or sell. Reach out to me with any questions, I am here to help you make that next move towards homeownership or your next home, that can include guiding you into making a 1-3 year plan to purchase or sell.
Mary Cockburn/Associate Broker License #51526
Realty One of New Mexico
8500 Menaul Blvd NE Suite B-275
Albuquerque, NM 87112
505-639-2090 Mobile
505-554-2213 Office
MaryCockburn.Realtor@gmail.com
