Over the past few years, the housing market has favored those looking to buy a home rather than those looking to sell. As the number of homes for sale on the market have increased, potential home buyers have held the upper hand in negotiating.
However, the tide may be turning for sellers. With now being a good time to buy, many sellers are witnessing the housing market to be in their favor. An article on RealtorMag reports about 28 percent of Americans feel that not only is it a good time to buy, it’s also a good time to sell. This article gathers its data from a survey by Redfin, of more than 1,200 potential buyers in 18 cities.
This survey reports nearly 60 percent of respondents believe prices will rise this year, up from 34 percent of last year. What does this mean? The sellers are now becoming the negotiators in this transaction. Seventy-one percent of respondents also said “they are seeing more bidding wars and multiple bids on homes today, too.” As previously stated, now is the best time to buy. And just as record-low interest rates are luring potential home buyers, the decreasing number of homes for-sale have provided a boost of optimism for sellers.