Fewer agents think it's a good time to sell

by 06 Jan 2014
The number of real estate agents who think it's a good time to sell has fallen in a new survey.

The Redfin Real-Time Agent Sentiment Survey has found the majority of agents believe it's a good time to sell, but the proportion has fallen. Sixty-five percent of agents in the fourth quarter believed it was a good time to sell, as compared to 72% in the third quarter and 86% in the second quarter.

Conversely, buyers appear more willing to make concessions to find a home. In the fourth quarter, 35% of agents said buyers were willing to pay more to find a home compared to the previous quarter, and 30% said buyers were flexible on homes' features and held lower expectations for how far their money would stretch.

Real estate agents also showed concern over the impact of mortgage rates. With rates expected to head higher in 2014, 39% of agents said rates exceeding 5.5% would harm home sales and price growth, while 33% believed rates would have to top 6% to have an impact.

COMMENTS

  • by bd | 1/6/2014 8:43:22 AM

    for every half-percent increase in rates we'll see an approximate 5% reduction in borrowing power.
    Add to that the decrease in max dti levels. It's easy to comment on the immediate impact but the influence on the larger picture may not be so clear. It will hurt my business for sure but what does the fed do? Keep buying bonds? I say let's get on the the show. I started in the business when rates were 13% and dti's were even more restrictive, I still made a good living as a banker and at 50 bps.

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