Why Aren’t More Homeowners Looking To Sell?

Recent real estate data shows home buyer demand is high. There are a lot of buyers looking to take advantage of current conditions out of concern that mortgage rates may go up this year or prices will rise further. That, along with pent-up demand from younger buyers and previously underwater homeowners looking to finally move, means it should be a great time to sell a house.

So, if buyer demand is up and conditions are right, why aren’t more homeowners putting their homes up for sale? Well one reason, according to a recent survey, is that they’re afraid they won’t be able to find a suitable replacement for their current home. With inventory tight in many markets, some homeowners – who may otherwise be ready to sell – say they’re hesitant.

However, as more homeowners get in the market and off the sidelines, that will begin to change. In the meantime, buyers looking to purchase a home this spring should expect to see available homes for sale selling more quickly than they did last year.

In other words, there will likely be some competition for hot properties. Interested buyers will have to move fast. One way to beat the competition is to be prepared. If you’re a buyer, have your financing lined up in advance and have a professional Realtor working for you. Experienced representation will be key to winning negotiations in this hot market.

 

This article is provided by Jennifer Bixby, the broker for Don Peterson and Associates Real Estate, 100 E. 6th St.  Jennifer can be reached at 402-721-9700 for answers to questions regarding real estate.

59 Million Americans Say They Want to Buy

A recent survey conducted by Princeton Survey Research Associates says 59 million Americans are considering buying a home this year. That’s roughly one in four adults. Conducted on behalf of Bankrate, the survey shows the strongest demand among parents with young children and adults between the ages of 27 and 52 – not surprising considering the lower-than-usual number of first-time home buyers active in the market over the past few years.

Holden Lewis, a mortgage analyst with Bankrate, says there’s a lot of pent-up demand among younger buyers. “They have been stymied by stagnant wages, student loans and a lack of available starter homes,” Lewis said. “If enough affordable homes are put on the market, we might see a surge of first-time home buyers in their early to mid-30s.”

That, however, is the big question for home buyers this year. Will there be enough affordable homes on the market to support the increasing number of interested buyers? There have been signs recently that home builders are beginning to build smaller, more affordable homes but, without a spike in the number of Americans hoping to sell their homes, buyers may face another competitive spring market this year.

 

 

This article is provided by Jennifer Bixby, the broker for Don Peterson and Associates Real Estate, 100 E. 6th St.  Jennifer can be reached at 402-721-9700 for answers to questions regarding real estate.