Homes in DeKalb County sell fast, even with limited supplies. With home shoppers turning out in droves, even during a pandemic, you might wonder why more homeowners aren’t listing their homes for sale. The concerns are simple … and the answers are simple.
Only 1% of homeowners are currently selling, according to a recent Zillow survey. The rest are sitting on the sidelines at a time when there’s a severe shortage of homes for sale — and a slew of buyers looking to buy one.
The most common reason cited among all homeowners for staying put: They don’t want to become a buyer once they sell. More than a fourth of homeowners (26%) in the survey say they’re concerned about not being able to find or afford a home once theirs is sold.
Zillow research shows that 63% of sellers also are buying a home. The current market is extremely competitive for buyers, with some homes going under contract in a record-low 10 days.
In addition to concerns about where they might live after selling, homeowners cite general life uncertainty (22%) and expectations that waiting will bring a more favorable sales price (21%) as reasons to stay in their homes.
With mortgage interest rates at historic lows, it’s not surprising that 15% of homeowners report a recent refinance as a reason for not listing their homes. While 54% percent say they will use the money they saved by refinancing to pay off debt and 50% say they would put the savings toward retirement, half say they would put that extra money toward home improvements.
There are many good Real Estate agents in DeKalb County … interview several before you list your home.
