The latest Redfin Real-Time Agent Sentiment Survey is showing signs that the home buying market is shifting away from being driven by sellers and back to one controlled by buyers.
In 3Q13, 72% of the agents said now is a good time to sell,
The biggest challenges for buyers (and the biggest benefits for sellers) remain limited inventory (cited by 87% of the agents) and bidding wars (79%). However, 62% of agents said sellers have unrealistic expectations about the value of their homes. And 30% of the respondents state sellers are having difficulties
Even with the high numbers citing limited inventory and bidding wars as concerns, 56% of the agents believe the market during 3Q13 became less competitive and just 22% said it became more competitive.
Redfin surveyed 522 of its agents in 22 metropolitan areas nationwide between Aug. 20-25.
