Despite the return of housing market seasonality, homesellers are still expecting a red-hot fall and winter homebuying season similar to 2020, according to realtor.com’s latest survey released on Thursday.

Despite the return of housing market seasonality, homesellers are still expecting a red-hot fall and winter homebuying season similar to 2020, according to realtor.com‘s latest survey released on Thursday.

George Ratiu

“The pandemic has delayed plans for many Americans, and homeowners looking to move on to the next stage of life are no exception. Recent survey data suggests the majority of prospective sellers are actively preparing to enter the market this winter,” realtor.com Manager of Economic Research George Ratiu said in a prepared statement on Thursday.

“Buyers should be ready for high asking prices and offer deadlines as seller expectations of the upcoming market are greater than in the spring.”

More than a fourth of homeowners plan to sell their homes within the upcoming year, with a whopping 65 percent planning to list their homes within the next six months. Nineteen percent of homeowners surveyed have already placed their homes on the market, while another 93 percent have taken preliminary steps, such as talking to an agent (28 percent) and researching their home’s value and pricing needed repairs (36 percent).

Millennials and Gen-Zers are the most eager to sell, with 40 percent of them planning to sell their home by the end of December. Although Gen-Zers are expecting to attract buyers at a more affordable median listing price of $350,000 (45 percent), millennials are aiming to tap into the higher end of the market with a median listing price of $750,000 (49 percent). Overall, 20 percent of sellers intend to sell their homes for $1 million or more.

“With a competitive market marked by multiple bids, price escalation clauses and contingency waivers, Spring 2021 saw sharp price increases. The trends seem to have motivated homeowners across a wider price spectrum to list their homes,” the report said of the growing number of luxury homesellers entering the market.

“While 58 percent of sellers in Spring were planning to bring a home priced at or below $350,000, that share dropped to 34 percent by the fall.”

“The shift was driven by homeowners higher up the price spectrum,” it added.

Despite rising mortgage rates and the return of a slower fall and winter homebuying season, homeowners said lifestyle changes have pushed them to enter the housing market now, get a quick closing (29 percent) and still garner an offer that’s above their home’s value (42 percent). However, a whopping 77 percent of sellers said they’d accept an offer below the asking price if buyers offered a quicker closing process.

Lexie Holbert

“As we discussed in prior research, the COVID pandemic changed what Americans want in their homes, spurred by the need for distancing, more flexible spaces and affordability,” the report read. “Close to four in ten homeowners in the fall survey mentioned their current home was no longer fitting, compared with 30 percent in the spring.”

Although a sizable share of homeowners are optimistic about selling, even more are wary of listing their home because they’re unsure about their ability to find another home in their price range (28 percent). Homeowners are also concerned about the economy and the risk of an impending slowdown.

“The right time to sell your home is a deeply personal decision that has to be right for you and your family,” realtor.com Home and Living Expert Lexie Holbert said. “For homeowners who do feel ready to sell, getting pricing right from the start is key to a fast and successful home sale in any market.”

Email Marian McPherson

Realtor.com
Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Hear from Realogy, Pacaso, SERHANT., Spotify, Redfin, Douglas Elliman, and 100+ more leaders at ICNY.Register now×
Limited time: Get 30 days of Inman Select for $5.SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription