IRVINE, Calif. – Sept. 11, 2015 – Consumers are optimistic about the housing market’s long-term prospects, but a number of homeowners who would like to sell say they’re hesitant to do so.
According to Berkshire Hathaway HomeServices’ Homeowner Sentiment Survey (HSF), the most common obstacles cited by homeowners for not yet listing their home are due to inventory concerns, including “waiting for the right opportunity” and “haven’t found my ideal home yet.”
Of the consumers who are considering a home sale but haven’t listed yet, 73 percent say that home prices haven’t recovered enough yet from pre-recession levels; 68 percent of current homeowners said underwater mortgages remain a big barrier; and 61 percent say they’re uneasy about the economy.
“Though home prices around the country have recovered much of the ground lost during the downturn, contemplators are telling us they want more confidence in the decision to list,” says Gino Blefari, CEO of HSF Affiliates. “They’re also telling us they need more information about their markets, pricing and specific home improvements in order to list.”
The fearful home seller could be an untapped market for Realtors – 55 percent of owners contemplating a sale said they’d be more likely to do so if they had additional information on the home selling process.
“The stage is set for real estate professionals to connect with consumers, learn their needs and concerns, and determine the best way for sellers and buyers to capitalize on the opportunities that exist today,” Blefari says.
Overall, 71 percent of the more than 2,500 current homeowners and prospective homeowners surveyed said they were confident the housing market was heading in the right direction. However, respondents cited concerns over their credit score, stringent lending guidelines and the competitive landscape for homes as the top barriers facing the housing market today.
Source: Berkshire Hathaway HomeServices
© Copyright 2015 INFORMATION, INC. Bethesda, MD (301) 215-4688
Source: Florida Realtors Feed