Sellers say they have the upper hand this year in the housing market, with a clear majority expecting their homes to go for at least asking price, with little need for concessions.
More than four out of five, or 81%, of potential sellers in the next year expect demand will lead them to receive their listing price, if not more, according to a March survey conducted in time for
Additional data suggesting that 2025 will be a seller's market includes the fact that three-quarters of respondents expect homes to sell in an average or shorter-than-average timeframe. Meanwhile, 63% also do not expect they will need to offer any significant or unexpected concessions.
"Spring is historically the best time to sell, and this year, sellers are entering the season with high expectations," said Laura Eddy, vice president of research and insights at Realtor.com, in a press release.
"Our survey found that many potential sellers feel confident they'll not only sell quickly but also receive top dollar for their home," she added.
Among the homeowners surveyed, six out of 10 potential sellers are actively taking steps to list. More than one-fifth, or 22%, already have their property on a listing site. Meanwhile, more than one-third, or 36%, already reached out to a real estate agent, while 27% completed an inspection of their likely for-sale property.
Even if not in the process of listing, nearly all of those surveyed, or 96%, are making some type of preparation for a home sale. Most commonly, 71% are examining the value of their property, while 61% also conducted research on prices in their neighborhoods.
While trends generally point to the likelihood of increased sales in 2025 after a more sluggish pace of the past two years, the survey also showed that the same factors holding back sellers in the recent past still weigh on their minds.
"Despite their optimism, our survey suggests that potential sellers – especially those who have been waiting to sell for a year or more, still feel locked in due to interest rates," Eddy said.
A rapid surge in mortgage rates in 2022 left many homeowners reluctant to move in the years since. The prospect of higher monthly payments that would come with a new loan dampened enthusiasm. Volatile interest rates, which are still
Approximately half of the number Realtor.com surveyed said they felt locked in by their current interest rate. The share increased the longer homeowners had thought about selling, with 55% who had been considering it for a year or more
More than three out of four, or 78%, of potential sellers said interest rates would likely either stay the same or increase in the next 12 months. Despite that possibility, two-thirds, or 66%, expect to buy a new home at the completion of their sale.
Changing U.S. economic conditions may also end up altering consumers' housing plans, with the prospect of turbulence, especially in relation
Pent-up buyer demand, combined with "a still-sizable nationwide housing shortage," provides reason for optimism, though, Realtor.com said.
Among reasons given by potential sellers for listing their homes, "necessity" was cited by 79% of respondents. Specific factors, such as the need for more or less space, changing family dynamics or work, fell into the category.
Also included under the necessity reasoning was difficulty in making payments, with 10% saying they needed to sell because they could no longer afford staying in the home.
Close to half of all respondents, or 46%, indicated their interest in selling was to find a different community.
