The "Great Stay" Is Loosening - But Not Because of Rates, Real Estate Pros Say

Written by:

Heather Hook

Date:

19 May 2026

KeyCrew Studio

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Featured responses from KeyCrew’s 3,500-expert intelligence network.

After three years of mortgage-rate-driven seller paralysis, U.S. housing inventory is starting to loosen – but the practitioners closest to the transactions say rates aren’t the reason. In responses collected by KeyCrew Media in April 2026, practitioners found near-universal agreement on what’s actually moving sellers, and sharp disagreement on what those sellers’ homes do once they hit the market.

What’s pushing sellers off the fence

The dominant theme: life events are finally outweighing rate-lock psychology.

“What we’re seeing now is the backlog of deferred decisions finally moving – divorces, deaths, job relocations, retirements. People who have been sitting on 3% rates for three years have started doing the math differently. They’re realizing that waiting for rates to come back down to 2021 levels is not a strategy – it’s paralysis. The sellers who are moving now aren’t doing it because rates dropped. They’re doing it because they can’t not anymore.”
— Daniel Kaufman, President, Kaufman & Company (Los Angeles, CA)

“When you take interest rates out of the equation, the ‘Six Ds’ – Death, Divorce, Disability, Downsizing, Deployment for job, and Domestic Upsizing – will still defeat the hesitancy. Statistics show that only 2% of homeowners actually remain in their 30-year mortgages for the full 30 years. That means the other 98% will fall off, be pushed off, or grow heavy and eventually break the proverbial fence.”
— Jerry Larkowski, Esq., Executive Broker, ESQ. Realty Group (Little Rock, AR)

“There’s an old saying: people don’t change until the pain of remaining the same exceeds the pain of change. That’s exactly what is beginning to push more sellers off the fence. The pain of being ‘married’ to a low interest rate is starting to lose out to the reality of needing a home that actually works for this stage of life.”
— Brett Ellis, Ellis Team, Keller Williams Fort Myers & The Islands (Fort Myers, FL)

“Death, Divorce, Diapers, Diamonds – the four D’s are ultimately what push people to the brink when their current living situation is simply not sustainable anymore.”
— JJ Gallant, Associate Broker, Dina’s Realty (North Shore Boston, MA)

“What’s changed recently is that the psychological gap is shrinking. For the first time since the pandemic, more homeowners actually have mortgages above 6% than below 3%, which makes moving feel less like giving up a once-in-a-lifetime loan.”
— Zach WalkerLieb, Real Estate Professional

“Many homeowners have tapped their equity to pay down record-high credit card debt, which actually makes selling more appealing even at today’s rates. Savvy buyers also recognize this as a window of opportunity. With less competition, sellers are offering real concessions like rate buydowns, closing cost help, and below-market pricing.”
— Reed Letson, Elevation Mortgage (Colorado Springs, CO)

What’s actually moving

The answers diverge sharply by market – and the divergence is the story.

“Pricing in the $300K to $400K range seems to be in higher demand. Buyers remain on the sidelines for homes priced above $800K, a decrease from the last 12 months.”
— Melissa Connell, Founder & Broker, Palm & Pine Realty Group (Central Florida)

“Updated, move-in ready homes in prime locations are still moving quickly, especially in the $800K to $1.5 million range. Homes that are dated, overpriced, or need work are sitting longer.”
— Liz Khodak, Helen Adams Realty (NC & SC)

“In my market, luxury homes are actually moving the most. Sellers in the upper brackets are less constrained about giving up low interest rates should they need or want to move, and similarly wealthy buyers can make cash offers, or otherwise bid well over asking price.”
— Deborah J. Wess, Berkshire Hathaway HomeServices Chicago (Chicagoland, IL)

“Condos and townhomes are very weak with declines. Single family has still been competitive and increasing in price.”
— Spencer Hsu, MBA, Realtor, eXp Realty (California)

“31.1% of sellers cut list price in February, with some of the highest shares in San Antonio, Austin, Dallas, Tampa, and Fort Lauderdale.”
— Reza Sardeha, CEO, Anyone.com (Amsterdam, Netherlands)

“The central and northern New Jersey suburban markets are still very much seller’s markets with a lack of inventory overall. Towns with good public schools and easy access to public transit still have a lack of inventory.”
— Dennis McGill III, Weichert Realtors (Jersey City, NJ)

The takeaway

Across the responses, two patterns emerge: life events are doing the work that lower rates won’t, but what those sellers’ homes do once listed depends almost entirely on local supply, asset class, and price tier. The “Great Stay” isn’t ending in a wave – it’s ending in pieces.

About The Responses:

Responses are part of KeyCrew’s recurring research series across residential, commercial, and technology real estate, drawn from a 3,500-expert intelligence network. Quotes come from live interviews and written responses, selected on editorial merit.

Disclosure: Some featured experts may have a commercial relationship with KeyCrew Media. This does not influence selection.

About KeyCrew

KeyCrew Media is an expert-sourced real estate intelligence platform that publishes market insights through its portfolio of digital properties and syndicates to 300+ local and national publications.

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Disclosure: Individuals or companies mentioned may have a commercial relationship with KeyCrew.