Home Seller Confidence Increases, Redfin Finds
While more homeowners are confident in listing their property for sale, many are worried about finding their next place to live, a survey from Redfin finds.
Almost three in 10 potential sellers are concerned about the shortage of inventory on the market because they know they will have to aggressively compete for their next home, driving up their costs. Another cost factor that concerns this group is increasing mortgage interest rates.
Still, there was a four percentage point rise in the number of consumers believing right now is a good time to sell a home, to 38% from 34% in 4Q13.
More than four in 10 sellers were looking to buy a nicer home and/or a larger home while almost 30% want to move to a different location.
Nearly 30% of the respondents were worried about their buyers obtaining financing to close the transaction.
Even though rates are rising, more than half of those surveyed said that is either one factor (41%) or the key factor (11%) in why they decided to list their home for sale in 1Q14.