While today's real estate market presents many challenges for homebuyers and sellers, there is also plenty of opportunity for those who are armed with the right information. Developing a deeper understanding of the obstacles that may be preventing you from listing your home for sale could reveal why now may actually be the right time for you to move forward with putting your home on the market. Here are a few of the reasons why you may be waiting, and why that's not necessarily the best decision.

A lack of inventory. Lower than usual new-home construction starts along with homeowners who are hesitant to put their home on the market has resulted in a dearth of inventory for today's homebuyers. You might be reluctant to sell your home because of the inability to find a new home once you sell. Doing so, however, prevents you from reaping the benefits of today's sellers market. Talk to your real estate agent to learn about any programs their brokerage offers to help get you into a new home should you sell, or consider downsizing to a more affordable home as an interim step.

High mortgage rates. The narrative in today's market is that rates are high, causing many people to wait for rates to come down before they list their home. For homeowners who locked into a low rate, selling their home (and financing a new one) would mean trading their low rate for a higher one, so they decide to wait. Historically speaking, however, interest rates remain low, and it is highly likely they will never return to the unprecedented pandemic era rates of 2% - 3%. Remember that real estate is a long-term investment so have your agent explain the potential financial return should you sell your home now.

Affordability. Many homeowners are reluctant to sell due to the generally higher prices of homes. Reentering the market as a homebuyer could be more costly in the face of higher prices, and rising insurance costs. Your agent can help you, however, understand the details of the various financial scenarios surrounding a possible home sale and home purchase. Don't make the decision to "wait out the market" until you get a clear picture of how it relates to your individual situation.

While market conditions play an important role in your homebuying and selling decisions, the most important factor is your lifestyle desires. Don't let the market prevent you from moving closer to family, relocating for a dream job or downsizing to for a better lifestyle.