“The survey of 2,583 U.S. adults, conducted in September and October by HarrisX and released Thursday, found that 65% of sellers expect to sell within the next six months. That includes 19% who have already listed their homes.
The expected surge in activity comes after many sellers sat on the sidelines during the COVID-19 pandemic even as low mortgage rates fueled demand from home buyers. As Realtor.com pointed out, expectations for bidding wars and quick sales are even higher now than they were during the spring.
Nearly all of the current prospective sellers (93%) have already taken steps toward listing their homes, including working with an agent (28%). That’s up from 76% in the spring.
More than one-third of prospective sellers (36%) have researched the value of their homes and others in their neighborhood, as well as started making repairs or decluttering.
The rise in remote work has been a key driver in the decision by more home owners to sell. Nearly one-quarter (23%) of sellers are looking for a home office, while 19% no longer need to live near their workplace, up from 6% in March.
Nearly half of current prospective sellers think they can turn a profit (45%) from their sales, up from 24% in the spring.
About four in 10 prospective sellers (42%) said they will ask for prices above what they think their homes are currently worth, while 29% will look for a quick close. More than three-quarters (77%) said they would be willing to accept a lower offer to close quickly, up from 54% in March.”
How will this impact the market? Are most sellers holding out for Spring? How will this play into the impending bubble pop?