Anna Child Group

Redfin; Housing Market Survey!

Redfin recently conducted a survey to find out what their clients felt about the housing market and where it will be going in 2013. You can find the original post here!

The results in a snapshot;

Redfin - Real Estate in Baltimore, Boston, Los Angeles, Orange County, San Diego, San Francisco, Seattle, and Washington DC_1250730345619

  • 49% of respondents believe now is a good time to buy, down from 56% last quarter;
  • 28% believe now is a good time to sell, up from 13% last quarter;
  • 58% believe 2012 prices will increase, up from 34% last quarter;
  • 63% cite low interest rates as the reason to buy now, down from 73% last quarter, but still the most popular rationale by a large margin;
  • 60% cite low inventory as a primary reason not to buy this year, down from 63% las
  • t quarter, but still the most common complaint by a large margin;
  • 58% of respondents said they were “very interested” in conventional sales, up from 48% last quarter; demand may be broadening beyond bargain-hunters shopping for foreclosures;
  • 71% of respondents who had signed an offer reported facing competing offers; and
  • 64% of all respondents had said they would be “disciplined” in a bidding war, paying only a little more, compared to 27% who said they would not compete at all, with 10
  • % saying they would pay whatever it took.

If you are thinking about selling, this should be your wake up call to sell now!