Home Sellers Are SOLD on This Real Estate Market

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According to a survey completed by Redfin, a real estate broker in California, the new “happy camper on the home-front” – literally – are home sellers.  For so long now, the real estate market has been understood to be COMPLETELY a buyer’s market because of the insane amount of inventory on the ground.  The latest information from the National Association of Home Builders (NAHB) is that the current available inventory, on average, nationwide is approximately 4.4 months, which is a huge improvement from the 16, 19, and even 24 months of inventory that was left standing after the market bottomed out.  With a little over 4 months of product out there, and other home sellers still on the fence because of trying to decide if they should wait for home values to go up again, those ready and brave enough to “get back out into the market,” are doing so with great results!

Here are how the numbers stand.

4th Quarter, 2012: 15% Seller Confidence

1st Quarter, 2013: 22% Seller Confidence

2nd Quarter, 2013: 45% Seller Confidence

According to Redfin’s survey, this is a very real leap in confidence that is continuing to trend upward.  To find out more about the survey and see the charts and information in real time, click here.  Below is a summary of the results of the survey:

  • 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.

With interest rates as low as they will probably ever be, and mortgage companies more stable and ready to lend, NOW is the time to buy, but now is also the time to sell.  Bedico Creek offers custom home buyers a “move-up” home which can either be a 2nd move or sometimes even a 3rd move for those experienced homeowners.  If you are interested in building a new custom home, but you have a house to sell; you might want to start exploring your options for putting your home on the market.  Several reports are even saying that because of home seller uncertainty, the houses that ARE for sale are ending up with several offers, or sometimes even a bidding war.  Now is time to take advantage of “both sides of the coin” – both buying and selling.  If you would like assistance with your new or custom home purchase, Contact Bedico Creek Today at 985-845-4200 or E-mail [email protected].

Click Here for the Source of the Information.