More than 85% of Redfin’s real estate agents said now is a good time for homeowners to sell, up from 82% in the first quarter, but only 46% said it was a good time to buy, down from 57%.
Redfin agent Mark Biggins said, “There has been a recent softening of the market.
“The buyers that are active have more homes to choose from and this is spreading out demand, reducing the number of offers any given house will receive.”
Still, when surveyed between June 21 and June 25, 86% of the agents said prices will rise in the coming months; this is down from 97% in 1Q13. Only 16% said prices will “rise a lot,” down from 44% in the first quarter.
Furthermore, 93% said low inventory and multiple offers remain the most common challenges facing buyers, a drop of three percentage point from 1Q13.
And more people are entering or re-entering the real estate sales business. Over three in ten Redfin agents said they are seeing more people in their area becoming real estate agents, up from 24% in 1Q13.
