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Eighty One Percent of Homeowners Planning To Sell Think Prices Are Headed Upward

dennis-norman-realtorEighty one percent of homeowners that intend to sell their homes feel home prices will rise in the next 12 months, according to a survey conducted by Redfin.  While homeowners are feeling more optimistic about the prospects of selling their home and about home prices, they are, at the same time, being open minded with regard to options to selling, such as renting out their property, with 47 percent saying they would consider renting out their home instead of selling.

Survey Results:

  • 81% believe prices will rise in the next 12 months, up from 75% in the fourth quarter;
  • 34.1% indicated that missing out on future price gains was a major concern, up from 30.6%, and overtaking general economic conditions (33.8%) as the top concern;
  • 49% indicated that they were planning to sell, up from 45%;
  • 47% would also consider renting out their home instead of selling, up from 43%;
  • 22% believe now is a good time to sell, up from 15%
  • 54% believe it is a good time to buy, down from 58%