Now is the perfect time to sell, say sellers

Source: Housingwire
Home-Seller Confidence Doubles in the Second Quarter
by Tim Ellis

  Responses to Redfin’s Real-Time Seller Survey indicated a dramatic shift in the confidence of home sellers in the second quarter—45 percent of sellers believe now is a good time to sell, up from just 22 percent in the first quarter and 15 percent in the fourth quarter. Meanwhile, 44 percent of sellers believe now is a good time to buy. This is the first time sellers have been more optimistic about the market for selling than for buying since Redfin began conducting this survey, in the third quarter of last year. Nearly a third of sellers have no major concerns about selling, up from just 19 percent in the first quarter. Here’s what sellers told us this quarter: •45 percent believe it is a good time to sell, up from 22 percent last quarter, while 44 percent believe it is a good time to buy, down from 54 percent last quarter; •32.3 percent indicated that missing out on future price gains was a major concern about selling now—down from 34.1 percent last quarter and barely exceeding the 31.9 percent of respondents that have no concerns; •52 percent of respondents indicated that they were planning to sell, up from 49 percent in the first quarter; •15 percent of those not planning to sell are renting out their home, while 52 percent of those who are planning to sell would also consider renting out their home instead of selling, up from 47 percent in the first quarter; •85 percent of sellers believe that home prices will rise in their area in the next 12 months, up from 81 percent in the first quarter; and •21% of sellers believe that they would not get a higher price for their home if they waited a year to sell, up from 15% in the first quarter. About the Survey This quarter’s seller survey took place between April 18th and 21st, 2013. We surveyed 1,984 people who had used Redfin in the last three months and who indicated that they were a homeowner. 1,036 of the respondents indicated an intention to sell his or her home at some point in the foreseeable future, while 948 respondents were not planning to sell. The results span 20 metropolitan markets in the U.S.: Atlanta, Austin, Baltimore, Boston, Charlotte, Chicago, Dallas, Denver, Las Vegas, Los Angeles, New York, Orange County, Philadelphia, Phoenix, Portland, Raleigh, Riverside / San Bernardino, Sacramento, San Diego, San Francisco, Seattle, and Washington DC.

URL to original article: http://www.housingwire.com/fastnews/2013/04/25/now-perfect-time-sell-say-sellers

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