Industry News

Home buyers take the driver’s seat

Survey shows only half of sellers getting 95-100% list price

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Only about half of U.S. home sellers outside of Northeastern states and California are now getting 95 percent to 100 percent of their home's listing prices, and most listings are taking more than 60 days to sell, according to a new survey released Wednesday. The national market conditions survey released by HouseHunt showed that annual price appreciation has slowed to a more sustainable single-digit level and that buyer demand and seller supply are on more even footing than previous quarters. "Seventy-four percent of our member agents reported that it is now taking 60 days or more, on average, from listing to contract," said Michael Bearden, president and CEO of HouseHunt, which provides information through HouseHunt.com and MoveUp.com. "A year ago, 77 percent of respondents said homes were selling in 60 days or less -- an incredible turnaround." Other findings in the third-quarter survey included: Seller-buyer ratio: Home sellers currently outnumber buyers 52 percent to 36 percent...