Homes Are Taking Longer to Sell, But People Are Still Moving
“I'm hearing that homes aren't selling as quickly these days. Is now still a good time to sell?”
When you hear news about a slowdown in the housing market, it's natural to feel concerned as a homeowner considering selling. You may worry that your home will sit on the market for months or that you'll eventually have to make a significant price reduction.
However, national housing market headlines don't necessarily tell you how likely your particular home is to sell.
According to an October 15, 2026, article from Keeping Current Matters, the current pace of existing-home sales in the U.S. translates to nearly 4 million homes sold annually, or approximately 11,000 homes per day.
This doesn't mean exactly the same number of homes sell every day, but it helps put the size of the housing market into perspective.
Even in a slower market, people are still buying and selling homes.
People Move for Different Reasons
Mortgage rates and home prices certainly influence buying decisions. But not everyone can put their moving plans on hold while waiting for the perfect interest rate or price.
Some people need to relocate for a new job. Growing families may need more space when a child arrives. Others may want to downsize after their children move out or relocate closer to family during retirement.
These life changes continue to create housing demand regardless of market conditions.
For sellers, the key is giving these buyers a compelling reason to choose your home.
Three Things Sellers Should Focus On
1. Price Your Home Based on Today's Competition
A neighbor's past sale price can be a useful reference, but it's equally important to understand what buyers are comparing your home against right now.
A realistic pricing strategy should consider recently sold properties, homes currently on the market, and properties that are already under contract.
2. Make Your Home More Appealing to Buyers
Small repairs, decluttering, bright interiors, and professional-quality photos can make a meaningful difference in a buyer's first impression.
Rather than immediately investing in expensive renovations, start by identifying the issues that might cause buyers to hesitate.
3. Adjust Your Strategy Based on Market Response
A home that receives very few showings may need a different approach from one that attracts plenty of visitors but no offers.
By monitoring showing activity, buyer feedback, and changes in competing listings, sellers can make more informed decisions about pricing and marketing adjustments.
In Chicago's Suburbs, Your Local Competition Matters Most
Even within the Chicago suburbs, communities such as Naperville, Northbrook, and Glenview have distinct housing markets that should be evaluated individually.
And even within the same town, school district boundaries, price ranges, property types, and home conditions can significantly affect which properties are considered comparable.
That's why it's important not to give up on selling simply because national home sales have slowed.
At the same time, being in a desirable neighborhood doesn't mean a home will sell at any asking price.
The first step is understanding how many similar homes are competing with yours and which properties are actually going under contract.
Buyers Should Be Prepared, Too
For buyers, a home that has been on the market for an extended period may present opportunities to negotiate.
Beyond the purchase price, you may be able to discuss repair credits, closing cost assistance, or a closing and move-in timeline that better fits your needs.
However, not every seller has the same flexibility. Each property's circumstances are different, and buyers should consider their monthly housing costs and long-term plans before making a decision.
Thinking About Selling Your Home?
Rather than simply waiting for the market to improve, start by understanding how your home compares with today's competition and how much you could realistically walk away with after the sale.
If you're considering selling your home in the Chicago suburbs, feel free to reach out to me. I'll be happy to help you review recent sales and competing listings, evaluate your home's pricing and preparation needs, and develop a realistic selling timeline.
The market may be moving more slowly, but opportunities are still there. The key is having the right strategy for your home and your local market.
Chicago Realtor | Sang Han
773-717-2227
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