Practical Advice form Mike Bowler
A new report from the National Association of Realtors (NAR) shows that existing home sales declined 3.6% in March, reflecting ongoing pressure from interest rates and limited affordability.
📖 Source: NAR Existing Home Sales Report (March)
What’s Happening Nationally
The latest data points to a market that is:
- Slower in transaction volume
- Still constrained by inventory shortages
- Impacted by interest rate sensitivity
But here’s the key distinction:
👉 This is not a demand problem
👉 It’s a friction problem
Buyers are still out there—but:
- They’re more selective
- They’re more payment-sensitive
- They’re moving more deliberately
What This Means for Greater Lansing
This is where interpretation matters—and where most agents miss the mark.
1. Fewer Sales Doesn’t Mean Falling Demand
In Greater Lansing, we’re still seeing:
- Buyers actively watching the market
- Strong interest in well-prepared homes
- Movement in the $200K–$450K range
👉 The slowdown is about pace, not lack of interest.
2. Inventory Is Still the Real Story
Even with the dip in sales:
-
Available homes remain limited
- Many homeowners are still holding low-rate mortgages
- New listings are not keeping up with long-term demand
👉 This keeps a floor under home values
3. Pricing Strategy Just Became More Important
In a faster market, you could “test” the price.
In today’s market:
👉 You need to position correctly from day one
Buyers today:
- Compare more options
- Take longer to decide
- React quickly to value—but ignore overpriced homes
4. Condition Matters More Than Ever
With fewer transactions overall:
👉 The homes that sell are the ones that stand out
That means:
- Clean, decluttered presentation
- Strategic updates (not over-improvements)
- Professional marketing
This is especially critical for:
- Downsizing sellers
- Estate/probate properties
- Long-time homeowners preparing for sale
5. Senior & Transition Sellers Are Still Leading Activity
Even with the slowdown:
- Life transitions continue
- Downsizing decisions are still happening
- Families are still making planning-based moves
👉 These are not rate-driven decisions
👉 They are life-driven decisions
And that segment remains steady.
What Has Changed vs. What Hasn’t
Changed:
- Buyers are more cautious
- Sales volume is slightly lower
- Time on market may stretch in some cases
Not Changed:
- Demand for well-positioned homes
- Need for strategic preparation
- Importance of local expertise
The Real Opportunity in This Market
This is not a “wait and see” market.
It’s a plan and execute market.
For Greater Lansing homeowners:
👉 You are likely still in a strong position
👉 But success depends more on strategy than timing
Practical Advice for Sellers
If you’re considering a move:
- Don’t base your decision on headlines
- Base it on your equity, timing, and goals
Because even in a slower month:
👉 The right homes are still selling
👉 The right plans are still working
Final Thought
The takeaway from this report isn’t that the market is weakening.
It’s that the market is becoming more disciplined.
And in a disciplined market:
👉 Experience matters
👉 Preparation matters
👉 Strategy matters
If you’re thinking about selling, the best place to start is with a clear, data-driven pricing strategy tailored to your home and your goals.
👉 Request a home value or consultation here: Know Your Home’s True Value
Mike Bowler
Associate Broker | eXp Realty
Serving Greater Lansing
SRES®, CRB®, ePRO®
Expect The Best
