As mortgage rates rose last year, activity in the housing market slowed down. And as a result, homes started seeing fewer offers and staying on the market longer. That meant some homeowners decided to press pause on selling.

Now, however, rates are beginning to come down, and buyers are starting to reenter the market. In fact, the latest data from the Mortgage Bankers Association (MBA) shows mortgage applications increased last week by 7% compared to the week before. So, if you’ve been planning to sell your house but you’re unsure if there will be anyone to buy it, this shift in the market could be your chance. Here’s what experts are saying about buyers returning to the market as we approach spring.

1. Buyers Are More Confident

With lower mortgage rates, buyers are feeling more confident about their ability to purchase a home. This is especially true for first-time buyers, who often find it difficult to come up with larger down payments when rates are higher.

2. Bidding Wars Could Return

With more buyers in the market, bidding wars could become a common occurrence again. This is especially true in cities where the housing supply is limited. If you’re looking to sell your home and you’ve been waiting for the perfect time, now might be it.

3. Home Prices Could Rise

With more buyers competing for the same homes, prices could start to rise again. In fact, some experts believe that home prices could rise this year. So, if you’ve been thinking of selling your home, now could be the time to do it.

Overall, lower mortgage rates are bringing more buyers back to the market. This is great news for homeowners looking to sell, as it could result in higher home prices and more competitive bidding. So, if you’ve been waiting for the right time to put your home on the market, now might be it.