The housing market has cooled, and many homeowners who didn’t get the offers they were hoping for are deciding to pull their homes off the market. According to Realtor.com, the number of homeowners taking this step is up 38% since the start of this year and 48% compared to last June. In fact, for every 100 new listings this past June, about 21 homes were removed from the market.
If you’ve made the same decision, it’s understandable to feel frustrated. It’s never easy when the market doesn’t seem to cooperate. But here’s the good news: while slowdowns can feel discouraging in the moment, history shows they never last forever.
History Repeats Itself: Lessons from the Past
This isn’t the first time the housing market has hit a wall. Here are three examples that prove the market always bounces back:
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1980s: Mortgage rates skyrocketed to over 18%, and buyers nearly vanished. Sales slowed for years—but as soon as rates dropped, the market rebounded.
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2008: The Great Financial Crisis caused one of the steepest housing downturns ever. Prices and sales plummeted. Still, once the economy recovered, housing followed.
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2020: During COVID, home sales came to a standstill overnight. Yet the rebound was faster than anyone expected, with buyers rushing back as soon as restrictions eased.
The takeaway? No matter the cause, the housing market has always recovered.
Today’s Market: Why Sales Are Sluggish
In recent years, affordability has been the biggest challenge. Mortgage rates jumped at a record pace in 2022, while home prices climbed at the same time. That combination put buying out of reach for many, which naturally slowed sales.
The Outlook: Brighter Days Ahead
Here’s the encouraging news: experts believe sales are set to improve over the next couple of years.
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Last year, about 4 million homes sold (shown in gray in the graph).
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This year is tracking at nearly the same pace (shown in blue).
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But by 2026, forecasts from Fannie Mae, MBA, and NAR suggest we could see around 4.6 million home sales (shown in green).
Why the optimism? A big factor is the expectation that mortgage rates will ease, making it more affordable for buyers to re-enter the market.
History Always Repeats Itself
What we’re experiencing right now is part of a cycle we’ve seen many times before. Every slowdown in the housing market has eventually given way to more activity—and this one will, too.
Just like in the 1980s, 2008, and 2020, today’s dip in home sales is only temporary.
What This Means for You
If you’ve decided to pause your moving plans, you made the choice that felt right in the moment—and your frustration is completely valid. But here’s the bigger picture: housing slowdowns don’t last forever.
This is where a trusted real estate agent becomes an invaluable resource. Their job is to monitor local trends and spot the first signs of a rebound. When the market begins to shift, they’ll help you relist at the right time and with confidence.
The Bottom Line
The housing market has never stayed down for good. Slowdowns end, activity picks back up, and buyers return. The question is—will you be ready?
Now’s the time to connect with a local real estate agent so you don’t miss the next wave of buyers. Whether you’re planning to wait until conditions improve or you need to move sooner, having expert guidance will ensure you’re prepared for whatever comes next.