Today the CENTURY 21 brand released the results of its Spring Home Selling Survey, which found that with stiff competition among buyers, sellers are now at a clear advantage — finding themselves in positions where they are getting multiple offers, giving them the opportunity to pursue only the best bids.
In fact, the results revealed that 42 percent of those searching for homes have made an offer in the past six months, yet only 11 percent have had their offers accepted.
President and CEO Rick Davidson says, “The (economic) recovery has transformed the mindset of many buyers and sellers who grew accustomed to the buyers’ market we saw for years. Right now, we’re in a situation where buyer confidence is building back up and demand is strong. As our survey indicates, sellers are now in a more favorable position.”
The key findings of the survey include:
Talk about Housing Demand: 33 percent of those searching for a home say they have been at it for over a year, while 67 percent have been searching for up to a year.
Willing to Make Compromises: 80 percent of homebuyers are willing to compromise on location-related attributes such as commute, proximity to friends and access to restaurants , shops and general conveniences.
Sealing the Deal: 85 percent of home searchers are willing to go above and beyond to force the deal through.
- 51 percent of people would be flexible with the closing time.
- 31 percent would compromise by purchasing the house as-is.
- 29 percent would compromise by putting more cash down than they planned on.
Check out the survey infographic for more facts: