The new Best Time to Sell survey published by Realtor.com has found 70% of potential sellers thinking it is a good time to sell their homes – although market conditions are not driving that decision.
The survey found 79% of potential sellers are considering selling out of necessity, including the need for more or less space, for family, life events, work, or because they can no longer afford their home. Other reasons cited by sellers include the desire to move to a different community (46%), the need more space (34%), the need to downsize (25%), the need to move for family (21%), a life event, including marriage, kids or divorce (18%), the need to move for work including return to office or new job (15%), and the inability to afford their current home (10%).
Potential sellers are optimistic about the selling process, with 81% thinking they will get their asking price or more, 75% thinking it will take the average time or shorter than usual to sell, and 63% thinking they won’t have to make significant or unexpected concessions. Nearly every potential seller (96%) has done something to begin preparing for a home sale, with roughly one in three potential sellers (38%) making some type of home improvement to prep their home for sale.
“Spring is historically the best time to sell, and this year, sellers are entering the season with high expectations,” said Laura Eddy, vice president of research and insights at Realtor.com. “Our survey found that many potential sellers feel confident they’ll not only sell quickly but also receive top dollar for their home. Despite their optimism, our survey suggests that potential sellers–especially those who have been waiting to sell for a year or more, still feel locked in due to interest rates.”
The Realtor.com survey was conducted from March 14-19 among 801 homeowners who are thinking about selling their home in the next 12 months.
