Homeowners are reluctant to sell right now, and for good reason. On the one hand, taking advantage of the steep increase in home values—which are up by 47% from 2020—means you can net a sweet profit when you sell. But it also means dealing with expensive interest rates and high home prices if you need to buy a new property.
My husband and I found ourselves in this scenario in 2024. Selling our condo would provide enough money to make a 20% down payment on a larger single-family house, but we were pretty nervous about our prospects in the new housing market.
