Peak Home Sales Season Arrives, But High Rates and Prices Force Sellers to Temper Expectations

Spring is still the best time to sell a house, but sellers should lower expectations due to high mortgage rates and asking prices.

The week of April 14-20 is peak time for buyer demand and selling for the highest price.

Average 30-year mortgage rate hit 6.88% in April, up from 6.62% in January.

National median asking price was $384,500 in February, up 5.7% from last year.

Sellers are motivated to sell due to life events like new marriages, children, divorces and needing more space.