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MAJORITY OF HOME SELLERS THINK THEY'LL GET MORE THAN ASKING. HERE'S WHAT'S FUELING THEIR CONFIDENCE One group is feeling surprisingly optimistic about the housing market: potential home sellers. A recent survey by Realtor.com found that 81% of would-be sellers believe they’ll get at least their asking price (or more). That confidence is rising just as the market heads into what experts call the “best time to sell.” WHY SELLERS ARE FEELING BOLD Despite economic jitters and lingering fears of a recession, homeowners are betting on strong demand. Just 13% of surveyed sellers said they expect to get less than asking, while a small 5% aren’t sure. So, what’s driving this upbeat outlook? It’s all about supply and demand. Housing shortage is still significant, so much so that it could take over seven years to close. That scarcity gives sellers leverage, especially during spring, a historically hot season for home buying. “There are not many homes on the market in my area, so it’s a seller’s market right now,” said one survey respondent. SELLERS EXPECT QUICK SALES AND FEWER CONCESSIONS Thanks to the ongoing shortage of homes, three out of four sellers think their properties will sell at or faster than the usual pace. And they’re not expecting to bend much on price. About 63% say they won’t need to offer major concessions to close a deal, another sign of confidence in buyer demand. “The housing market is challenging,” says Realtor.com economic analyst Hannah Jones. “But sellers are optimistic because they’ve built up equity and expect offers to meet their goals.” WHY PEOPLE ARE SELLING NOW Not everyone is listing just because it’s a good time to cash in. In fact, many are doing it out of necessity. According to the survey:
PREPARATION PAYS OFF Sellers aren’t sitting back and hoping for the best. An impressive 96% have already taken steps to get ready for listing their home. About one-third have also made improvements, such as fresh paint, landscaping, or new fixtures, to boost curb appeal. Many went even further:
While the market isn’t without challenges, sellers this season are feeling hopeful, and many are making smart moves to get ahead. |
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