Your sellers are holding tight. Here's the data behind it.

Applications for new mortgages fell last week, according to the Mortgage Bankers Association, even though rates improved a little. That tells you buyers are still sitting on the fence, waiting for some magic number that may or may not show up. It also means your sellers aren't seeing the flood of activity they're hoping for, so they're staying put or pricing more carefully.

For your buyer clients, today's average 30-year rate is 6.5%. Not a huge drop, but enough to pencil out a lower monthly payment if they've been on the edge. For sellers, the message is simple: inventory is building slowly, and the buyers who are shopping right now are the serious ones. Homes that show well and price right are still moving. The rest are collecting days on market.

If you've got a client trying to time this thing perfectly, I can run real numbers and show them what waiting costs versus locking today. Call me at (949) 350-8005. NMLS 2010859 | informational only, not a commitment to lend, rates subject to change | Equal Housing Opportunity