Almost 90% of homeowners are worried about sales
One of the most important fears for the current homeowners is forced to accept a lower than expected offer, with 85% of the respondents say that they have a certain degree of concern to be put under pressure in a Lowball deal. Other concerns include potential buyers who ask for excessive concessions (72%) and withdraw a deal before they are closed (70%).
Among those with mortgages, 47% reported that he had locked an interest rate below 4%. And 30% of this group were concerned about losing their current rate when they sell their house.
Economic uncertainty also plays a role in the hesitation of the sellers, where 29% say they would delay the sale in the case of a large decline. Conversely, the increases of real estate tax would be a primary motivator for 43% of homeowners to sell faster.
Trust in the home sales process increases when certain conditions are met. Almost half of the respondents said they would feel safer if they had already secured a new house (45%), received a cash offer (44%) or worked with a trusted broker (43%).
In some parts of the country, the concerns of homeowners about selling can be justified. Smart real estate too reported That houses in the 10 slowest selling cities remain on the market for a median of 57 days, considerably longer than the national median of 37 days.
These markets also have larger stocks of houses, with about 3.5 months of inventory in the current sales pace compared to the National Median of 2.8 months. The slowest housing markets, based on median days on the market, are:
- Miami – 69 days
- Austin – 66 days
- Jacksonville – 63 days
- San Antonio – 62 days
- Birmingham, Alabama – 57 days
- Nashville – 56 days
- Pittsburgh – 55 days
- New York City – 55 days
- Phoenix – 54 days
- Chicago – 53 days
Houses in the fastest -selling markets, on the other hand, move much faster, with properties in Grand Rapids, Michigan, who usually sell in just 13 days. The fastest housing markets are:
- Grand Rapids, Michigan – 13 days
- Buffalo, New York – 14 days
- Seattle – 15 days
- San Jose – 16 days
- Richmond, Virginia – 18 days
- Boston – 21 days
- Indianapolis – 21 days
- Sacramento – 23 days
- San Diego – 23 days
- Fresno, California – 23 days
