Not long ago, home sellers were in their heyday, as historically-low mortgage rates triggered a real estate buying frenzy. However, the Federal Reserve shut down the party when it began raising interest rates last year.

Now, it’s not as simple to sell a home. While pandemic-era homebuyers were racing the clock trying to lock in a low mortgage rate and gain a foothold in the market, current buyers are more discerning. Higher prices and mortgage rates have pushed their limits of affordability, leading them to prioritize cost, condition, and overall value.