Swinging Pendulum: Sellers Regaining Power in Real Estate Transactions

"The recovery has transformed the mindset of many buyers and sellers who grew accustomed to the buyers' market we saw for years," said Rick Davidson, CEO of Century 21. "Buyer confidence is building back up and demand is strong... sellers are now in a more favorable position." (Source)

33% of Americans have been home hunting for over a year and with that timeline in mind, many are willing to make compromises on where they ultimately end up living and even the type of home they choose just so they can close the deal. On top of this, only 2.16 million homes are for sale on the market, down 13.6% from a year ago. 42% of buyers have placed offers in the past 6 months with only 11% of these being accepted.

 

What does this all add up to? The seller’s market has fully rebounded and they are now in the position of power in the transaction. How long with conditions stay like this? No one really can say. Every trend shifts back to the other side… it is all just a swinging pendulum. 

Comment balloon 0 commentsJenifer Lower • June 26 2013 08:12AM
Swinging Pendulum: Sellers Regaining Power in Real Estate Transactions
share
"The recovery has transformed the mindset of many buyers and sellers who grew accustomed to the buyers' market we saw for years, " said Rick Davidson, CEO of Century 21. "Buyer confidence is building back up and demand is strong… more
Neighborhood Search: Finding and Getting to Know Your New Home
share
Moving is a life-changing process and now-a-days people have to not only find the perfect home to suit their needs but it needs to be in the right ‘spot. ’ So as a potential buyer you have to hit the dirt and do the time in looking around and… more
Hitting the Sweet Spot: Seller/Listing Agent Pricing of a Home
share
When a home owner makes the mental steps needed in order to reach a point of selling their home with it comes the memories, experience, and investment that the home owner has put into the space. When an agent is approached to give a… more
Home Appraisals and Their Role in Real Estate
share
Home appraisals are an integral piece of the real estate puzzle and as such, they can be used as indicators regarding how the market is faring. The relationship between the real estate market and appraisal values basically follows the trend that… more
Real Estate Headlines “Buy NOW or Be Priced Our Forever”
share
The real estate world has a few standard go-to phrases it uses to catch the interest of the populous. NOW is a great time to buy. This is the chance of a LIFETIME. At its core real estate is a salesman’s world. Tacky as… more