Best Time to Sell? More Americans Say ‘Yes’
Seller confidence is surging: The number of home sellers who say now is a good time to sell doubled in the second quarter, according to a new survey of nearly 2,000 owners conducted by real estate brokerage Redfin. In the first quarter of 2013, 22 percent surveyed said it was a good time to sell compared to 45 percent in the second quarter.
The percentage of respondents who say now is a good time to buy dropped by 10 percent in that time frame. Forty-four percent of home owners say it's a good time to buy, compared to 54 percent in the first quarter.
"More folks who bought before the bubble burst are now above water and listing their homes," says Chad Dierickx, a real estate practitioner with Redfin. "When sellers see their neighbors' homes selling quickly and for prices they never would have imagined a couple of years ago, they can't help but be optimistic about the market."
Nearly 32 percent of home owners surveyed said they have no concerns about selling right now. Eighty-five percent of sellers say they believe home prices will rise in their area for the next year — up from 81 percent in the first quarter, according to the survey.