According to a new survey from Realtor.com, 70 per cent of potential sellers believe it’s a good time to sell, with 81 per cent expecting to receive their asking price or higher for their homes.
Three-quarters of sellers also anticipate their properties will sell in average time or faster.
The majority of potential sellers are motivated by necessity rather than market conditions.
Nearly 80 per cent cite reasons such as needing more space, downsizing, family circumstances, life events, work relocations, or affordability issues.
Laura Eddy, vice president of Research and Insights at Realtor.com, noted the high expectations among sellers this spring.
“Our survey found that many potential sellers feel confident they’ll not only sell quickly but also receive top dollar for their home,” Ms Eddy said.
“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.”
The survey revealed that 96 per cent of potential sellers have already taken steps to prepare for selling their homes.
Most have focused on research, with 71 per cent checking their home’s value and 61 per cent researching neighbourhood prices.
Home improvements are also common preparation strategies, with 38 per cent of potential sellers making upgrades.
Among those making improvements, 70 per cent opted for light renovations such as repainting and updating fixtures, while 65 per cent fixed potential inspection issues.
Many sellers have been contemplating selling for an extended period, with 61 per cent thinking about it for more than a year.
The primary factor keeping them on the sidelines appears to be mortgage rates, as half of those with mortgages feel “locked in” by high rates.
This feeling is even stronger among those who have been considering selling for over a year, with 55 per cent citing mortgage rates as a barrier.
This hesitation makes sense, considering 66 per cent of potential sellers plan to purchase another home after selling.
Hannah Jones, senior economic research analyst at Realtor.com, said supply issues have been a boost to sellers.
“With the best time to sell approaching, sellers are optimistic and with a still-sizable nationwide housing shortage, there’s good reason to be,” Ms Jones said.
“Our research shows that the housing supply gap would take 7.5 years to close nationwide and much longer in some regions.”
Regional differences are also apparent in seller attitudes.
Northeastern sellers are most confident (80 per cent think it’s a good time to sell) compared to the West (72 per cent), South (69 per cent), and Midwest (65 per cent). Western sellers are most likely to expect above-asking prices for their homes.
“At the same time, we’ve seen pronounced shifts in financial markets as the economy adjusts to new policies,” she said.
“It’s always a good idea to work with an expert, and this is even more true at a time when housing markets are evolving to reflect broader economic conditions.”
