Many potential home sellers are staying on the sidelines due to high prices and a lack of available inventory for buying a replacement home, according to a report.
About 35% of homeowners surveyed by the California Association of Realtors said they have considered selling their home in the past year. But among that group, 64% said they decided against it because they couldn't afford the home they'd like to buy as a replacement.
The results came from CAR's first
In other findings, 61% of respondents said they would be prompted to sell if they could get the price they wanted for their home, and 53% said they would sell if a better or equivalent house was available.
About 60% of respondents said their current home would be their retirement house. The figure rose to 70% for those who had been in their home for at least 15 years.
