Seller Apprehension Contributes To Low Inventory

October 28, 2016

Even though homeowners say that now is a good time to sell, low inventory is expected to remain a key issue for the housing market next year.

Redfin conducted a survey of 1,700 prospective home sellers in October. According to the results, 42 percent of respondents said that it was a good time to sell, while 41 percent said that now is an “OK” time to sell. Nearly 70 percent of those surveyed said that house prices will increase next year.

While a large group of sellers want to move into a larger, nicer home, the main concern that they have is that they might not find a home they want, or one they can afford.

“The irony doesn’t escape me when I say home sellers are in a tough spot right now since the market seems to weigh so heavily in their favor,” said Lorella Martin, a Redfin real estate agent in Austin. “Many people move out of necessity, but those homeowners who would like to sell in order to upgrade to a larger and nicer home are on the fence. As prices continue to rise, most prospective home sellers ask me two key questions: ‘is now the best time to sell?’ and ‘how difficult will it be to find another home?’”

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