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Published: Apr 18, 2023 4 min read
Conceptual illustration of a man stuck behind a makeshift cage made out of a for sale sign of his own home
Rangely García / Money

Home sellers are heading into the spring market with flagging confidence and a persistent feeling that they're “locked in” by ultra-low mortgage rates they snagged during the peak of the pandemic.

With home prices and mortgage rates now elevated due to repeated interest rate hikes by the Federal Reserve, sellers and buyers alike are facing a tough market in 2023. A survey from real estate listing site of 1,200 recent or potential home sellers found that many homeowners who want to sell are holding off on listing their homes in hopes of mortgage rates decreasing.

What the data says

  • More than 85% of sellers plan on buying a new home as they sell, which means sacrificing their current mortgage rates for higher ones.