How to Buy a Home

Why Days on Market Matter Again in Today’s Housing Market

Carol Ann Wagley

For several years, how long a home stayed on the market barely registered with buyers or sellers because homes were selling quickly and often above asking price. That dynamic is shifting as recent housing data suggests a slower pace of sales and more choice for buyers. According to a Realtor.com Weekly Housing Trends Report, home prices have dipped in some areas and listings are remaining active for longer periods, indicating that buyers are taking more time to shop and sellers are adjusting to a less frenzied environment.image.jpeg

This change in pace is also reflected in broader housing market reporting. A Yahoo Finance housing market analysis notes that the median number of days homes were on the market rose compared to the previous year, showing that homes are not selling as quickly as they did during the height of the seller’s market. This points to a more balanced and stable market, with inventory growing and demand moderating.

A slower market pace gives buyers more time to compare homes, evaluate financing options, and perform due diligence before making a decision. For families who prioritize thoughtful planning and financial stewardship, values that resonate strongly within the LDS community, this shift can actually create opportunity.

Working with an experienced agent who understands both local market conditions and community priorities can make a meaningful difference, which is why many LDS buyers and sellers choose to connect through platforms like LDSAgents.com to find professionals who align with their values and long-term goals.

At the same time, longer days on market require sellers to rethink pricing and presentation strategies. Sellers who price realistically, maintain their homes well, and communicate transparently about condition and improvements are more likely to attract serious interest, even in a slower-paced environment.

Days on market may not dominate headlines the way mortgage rates do, but in today’s housing environment they quietly reflect how the market is evolving. In a market that increasingly rewards preparation, patience, and long-term thinking, understanding the pace of sales has once again become an important part of navigating real estate successfully.

Six Tips for First-time Home Buyers

Julia

First_Time_HomeOwner_Image_1344110563383Are you a first-time home buyer eager to get into the market? Here are some tips:

1. You may check the selling prices of comparable homes in your area of interest by speaking with your real estate agent. Your agent can give you a general idea of what you should expect to pay and may also direct you to websites where you can do a search of the Multiple Listing Service for homes that meet your criteria. LDSAgents.com has over 3,000 realtors across the USA and Canada who can help.

2. Your real estate agent will be able to recommend reliable lenders to speak to regarding a home loan.

3. There are many variables that can affect your interest rate. Your lender will be your ultimate source in helping you decide what kind of loan is best for you and what you can afford.

4. Know that your house payment may well include items like homeowner’s insurance, mortgage insurance (PMI), property taxes, and homeowners association fees. These costs can vary widely from state to state and location to location.

5. If you obtain a home loan, there will be closing costs associated with it. These upfront costs shouldn’t be overlooked. Closing costs include origination fees charged by the lender, title and settlement fees, taxes and prepaid items such as homeowners insurance and homeowners association fees. Again, your lender will be your valuable guide to these matters.

6. Last, but not least, consider a payment plan that enables you to pay off your home as quickly as possible. Paying off a home over 15 years rather than 30 can save you tens of thousands of dollars. One way to do this is to take out a 30 year loan (to guarantee lower monthly payments) and then make additional payments along the way as you are able. Talk to your lender about it.

Basic Steps for Buying a Home

Julia

home-for-sale-sign

Note: Your agent and lender will help you through all these steps!

Step 1: Start Searching Early—Homes frequently appear very different in person than they do on line.

Step 2:  Find the right real estate agent and lender: We can help at LDSAgents.com

Step 3: Determine how much you can afford by getting “Prequalified” for a home loan. See our video on “Prequalification”

Step 4: Shop for your home with your agent – This is the fun part!

Step 5: Get an Inspection – Your agent will help select a local inspector.

Step 6: Work with your lender to select the best loan for you. See our video on “Conventional, FHA, and VA loans”

Step 7: Have the Home Appraised—Your lender will normally take care of this (the appraised value must exceed the loan amount by certain criteria).

Step 8: Wait for funding to be approved by the “underwriter”.

Step 9: Meet with the title company or with the closing agent (depending on your state) to close the loan and the purchase. We recommend that you watch our video on “Closing Costs”