Home owners entering the market are motivated to sell desiring either an upgrade or possibly a downsized home, finds a new survey conducted by realtor.com®. Home owners looking to move because of retirement or to lower their cost of living were the two biggest increases this current year in realtor.com®’s survey revealing sellers’ top motivations.
“This is a good sign that more home owners may be motivated in the year ahead to sell their homes,” writes Jonathan Smoke, realtor.com®’s chief economist, in a recent column about inventory challenges plaguing markets. “A lack of inventory has been the biggest problem buyers faced for most of the past year.”
Indeed, in 2014, active inventory at realtor.com® totaled 2.1 million residential listings. In August of this year, however, active inventories have plummeted to 1.7 million active listings, a decline of over 8 percent.
The things that Really Makes Owners Wish to Move
Realtor.com® recently identified the following top motivators for selling, including:
They would like a different neighborhood: 42%
They need a bigger home: 21%
They want a home with different features: 21%
They need a smaller home: 19%
They would like a location with better weather/view/lifestyle: 19%
They need to lower their living costs: 19%
They are getting prepared to retire or just retired: 15%
But even if home owners want to sell, they may not be in a position to. Home owners reported the top impediments to selling were their perception of having to make improvements with their home first as well as the concern over finding a new property to purchase before selling. Sellers expressed concern about the dearth of homes for sale that make it difficult to find a new home.
Let Nick & Cindy Davis with RE/MAX Premier Group assist with handling this difficult transition. We have helped hundreds of families here in the Tampa Bay and Surrounding areas, sell and purchase their new home at the same time. It is possible to sell your current home and move into your new home the same day. It just takes some coordinating, and we can ensure it happens for you. We are always just a click here or call to 813-300-7116 away.
