A Flood of Listings Coming to the Market?
We have previously talked about the diminishing supply of housing inventory and how it is impacting the real estate market. The situation might be about to change dramatically according to a recent survey by Lending Tree.
The survey revealed three interesting findings. Of those surveyed:
- 63% have a positive outlook on the economy this year
- 69% have a positive outlook on housing this year
- 71% said they are considering selling their home this year
While the first two findings are good news, the third was rather amazing.
71% of homeowners are considering selling their home in the next 12 months!
While we realize that 70% of the housing inventory in this country could never be turned over in a year, it is interesting that people are again thinking about moving. There has been a pent-up selling demand over the last few years because families lost both equity in their homes and confidence in the economy. Rising prices have returned equity to many and an improving economy is again rebuilding consumer confidence.
Bottom Line
Only time will tell. However, even if a small portion of that 71% actually decide to sell, this year’s real estate market could be very interesting as we move forward.
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And did they survey how many of those households were going to buy? If all of those that sold bought, it’s a wash. The real trouble is when those selling rent instead.
I agree. Even though we see a high percentage wanting to sell their homes, we know that could also be because people may want to move up into better homes, which is actually GREAT for the market. So, it cuts both ways.
What biased study is this nonsense from? Interesting that Lending Tree is putting it out!
Right now America has over 80 million people NOT WORKING! A major correction/crash is coming soon!
if from lending tree you know root of info is rotten. When buyers say pre-qualafied lending tree we offer 2 advil and some real lenders