With a seller’s market in many places across the country, why are so many homeowners reluctant to sell? Nearly 80 percent of more than 1,000 homeowners recently surveyed say they believe now is a good time to sell a home, but many don’t plan to list their homes anytime soon.
Numerous would-be sellers say they’re holding off because of the high price they’d have to pay for their next home, according to ValueInsured’s latest quarterly Modern Homebuyer Survey.
It is seen as a seller's market in many parts of the country because of low inventory but those high prices are a double-edged sword when it comes to selling and then buying a home. People believe they can get an exceptional value for selling their home but then they're afraid to buy into a new property at these new market prices. Joe Melendez is CEO at ValueInsured.
Many have speculated that low refinance rates have been preventing homeowners from selling, but this factor is less consequential than expected, according to ValueInsured. Only about 18% of consumers interested in selling their home claim they haven't because of their current low mortgage payment.
With record-high home prices fueled by tight inventory and high demand, it's a seller's market, but many would-be sellers are hesitant to sell because of the price they'd have to end up paying for a new home.
About 79% of homeowners reported that it was a good time to sell a home in the third quarter, and two-thirds of homeowners stated they will sell "in the near future," up eight percentage points from the previous quarter.
Three in Five Would-Be Sellers Waiting for Prices to Settle, According to the Latest ValueInsured Modern Homebuyer Survey
It’s a seller’s market thanks to low inventory, but according to ValueInsured’s latest quarterly Modern Homebuyer Survey, many would-be sellers are hesitating to sell because of the high price they’d have to pay for their next home.
The survey, released today, found that 79 percent of homeowners believe now is a good time to sell a home. Two-thirds of homeowners are interested in actually selling their home “in the near future,” up 8 percentage points from last quarter.
There is plenty of noise in housing in the past week: Much of our industry rejects the newly proposed tax reform which includes cutting mortgage tax deduction. Some speculate the pending tax cut could trigger the next housing crisis, others say our industry is in a panic. A couple of days ago, a new report assessed nearly half of the country’s top 50 metro markets are overvalued. On the same day, a growing player in the home mortgage space suddenly threw in the towel, citing over-competition. We decided not to add to the noise this week; instead, we offer two simple thoughts...
A recent August survey by Freddie Mac found 3 in 4 renters (76%) now believe renting is more affordable than owning a home, up from 68% in March. The survey also reported that 63% of young Millennials ages 21-27 said renting fits their current lifestyle.
ValueInsured through its Modern Homebuyer Survey has been asking similar questions quarterly to gauge desire and preference in buying versus renting. While the desire to own a home remains high among all Americans, including Mllennials, ValueInsured’s researchers have noticed a similar drop in positive attitudes toward buying.
To learn more about homebuyers’ priorities, ValueInsured has used its quarterly Modern Homebuyer Survey to explore what types of home-buying related challenges keep them up at night, what they are willing to give us to fit within their budget. In the latest survey, ValueInsured posed this hypothetical question: If you had $10 per month to spend to insure and protect one thing in your new home, what would you choose to spend that $10 on?
Introducing +Plus Equity Protection, Latest Product from ValueInsured to Protect Homeowners
DENVER, Oct. 24, 2017 /PRNewswire/ -- ValueInsured, the only provider of home down payment protection, today announced the availability of +Plus Equity Protection on home refinances at the Mortgage Bankers Annual Convention and Expo in Denver. The new +Plus Equity Protection program allows current homeowners to refinance their current loans and protect their equity for the future - the same way +Plus Down Payment Protection does for homebuyers.
