Redfin Study Boosts Home Seller Confidence

Redfin, the technology-powered real estate broker recently released its latest survey of home-sellers, capturing sentiment of homeowners with the intent to sell.

Redfin based this analysis on survey answers from 1,984 respondents across the U.S. who had used Redfin in the last three months and indicated that they were a homeowner. Data was collected just last week. The Redfin Real-Time Home-Seller Survey is a companion to the quarterly Buyer Survey and Agent Survey.

Responses to the Redfin Seller Survey revealed a dramatic surge in seller confidence with the number of sellers who think now is a good time to sell doubling from 22 percent in the first quarter to 44 percent in the second. Meanwhile, the percentage of respondents who believe it is a good time to buy decreased by 10 percentage points.

This is the first time that optimism about the market for selling has surpassed optimism about buying since Redfin began conducting this survey, in the third quarter of last year. This shift in opinion reiterates Redfin agents' belief that we have entered a sellers' market, outlined in the latest Redfin agent survey.

"More folks who bought before the bubble burst are now above water and listing their homes," said Redfin agent Chad Dierickx. "When sellers see their neighbors' homes selling quickly and for prices they never would have imagined a couple of years ago, they can't help but be optimistic about the market."

Results Snapshot:

--  45 percent of sellers believe now is a good time to sell, up from 22 percent last
quarter;
--  44 percent believe now is a good time to buy, down from 54 percent last quarter;
--  32.3 percent cited missing out on future price gains as a major concern about
selling now--down from 34.1 percent last quarter;
--  31.9 percent of respondents that have no concerns with selling now;
--  52 percent of those who are planning to sell would also consider renting out
their home instead of selling, up from 47 percent in the first quarter;
--  85 percent of sellers believe that home prices will rise in their area in the
next 12 months, up from 81 percent in the first quarter; and
--  21 percent of sellers believe that they would not get a higher price for their
home if they waited a year to sell, up from 15 percent in the first quarter.

About the Q2 2013 Redfin Real-Time Seller Survey This quarter's seller survey took place between April 18 and 21, 2013. They surveyed 1,984 people who had used Redfin in the last three months and who indicated that they were a homeowner. 1,036 of the respondents indicated an intention to sell his or her home at some point in the foreseeable future, while 948 respondents were not planning to sell. The results span 20 metropolitan markets in the U.S.: Atlanta, Austin, Baltimore, Boston, Charlotte, Chicago, Dallas, Denver, Las Vegas, Los Angeles, New York, Orange County, Philadelphia, Phoenix, Portland, Raleigh, Riverside / San Bernardino, Sacramento, San Diego, San Francisco, Seattle, and Washington D.C.

About Redfin

Redfin (www.redfin.com) is a technology-powered real estate broker that represents people buying and selling homes. Founded and run by technologists, Redfin has a team of experienced, full-service real estate agents who are advocates, not sales-people, earning customer-satisfaction bonuses, not commissions. Redfin's online tools feature all the broker-listed homes for sale, as well as for-sale-by-owner properties that don't pay brokers a commission. The company serves 21 U.S. markets and has closed more than $8 billion in home sales. In 2012, Redfin was named one of The DIGITAL 100: World's Most Valuable Private Tech Companies by Business Insider.

Source: Redfin

 

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