With home prices increasing like they are around much of the country, it is understandable that the majority of home sellers believe now is a good time to sell. According to a Redfin Survey of home sellers conducted in July, 52 percent of respondents answered they believe now is a good time to sell in their neighborhood. Another 36 percent said now is an okay time to sell. 7 percent said it is a bad time to sell, and 6 percent said they were unsure.
Additionally, 58 percent of respondents believe sellers currently have more power than buyers, while 21 percent believe buyers and sellers have equal power and 20 percent think buyers have more power.
Unfortunately for high-flying sellers who think they have all the power, after selling a home, many shift (along with the oh-so-important balance of power) from sellers to buyers. It makes sense, then, that the top concern among sellers is that they may not find another home they want. Other concerns are that prices may fall before they sell, they may be unable to find another home they can afford, and that general economic conditions might discourage buyers.
Meanwhile, the top reasons for selling are desire for a larger or nicer home, relocating to a new city, or wanting to pull out their profit.
For the complete breakdown of Redfin’s survey, click the link below.