Krista Brayer
SFR,
Realty Executives Arizona Territory
Finding sellers appears to be much more difficult than it used to be. National Mortgage News says that only 11% of surveyed homeowners expressed any desire to sell. Tight inventory means less days on the market.
Why don't homeowners want to sell? With the newfound equity you would think they could buy a bigger, better home now. Well, the bigger better homes have been getting more expensive as well. Higher prices are not the only deterrent to selling. Did you know that 50% of all homeowners have an interest rate of 3.75% or less? As you can see, the average interest rate today is higher than 3.75%.
Information above provided by:
Steven Van De Bueken, SunStreet Mortgage