Why do sellers sell?
(Published on - 8/8/2016 3:32:04 PM)
Flagler– Aug. 8, 2016 – Boosted by a greater share of sales to first-time buyers not seen in nearly four years, existing-home sales maintained their upward trajectory in June and increased for the fourth consecutive month, according to the National Association of Realtors®.
Fifty-two percent of homeowners say it's a good time to sell in their neighborhood – an increase from 34 percent who said so last year, according to a survey conducted by the Redfin.
What's more, 58 percent of homeowners believe sellers have more power than buyers in the market right now, nearly the highest level of seller confidence the researchers say they've recorded.
Top reasons sellers want to sell now;
A larger or nicer home: 40%
Relocating to a new city: 24%
Pull out my profit: 21%
A smaller or less expensive home: 20%
A change in family status: 19%
A better school district: 15%
Some Americans expressed concerns about selling, mainly about finding a new home to buy when they sell their own.
Top concerns about selling;
Might not find another home I want: 30%
Prices might fall before I sell: 26%
Might not find another home I can afford: 25%
General economic conditions might discourage buyers: 23%
The appraisal might come in low: 19%
Price matters
When it comes to setting a price for their home, 55 percent of homeowners say they'll price in the middle range based on comparable sales. However, 19 percent of homeowners said they would price high, citing that negotiation is inevitable; and 12 percent said they'd price high because if the market didn't value their home enough, they would wait until it did.
Sources: NAR June 2016 Statistics & Research©
Florida REALTOR Copyright 2016 INFORMATION, INC. Bethesda, MD
