Fewer American homebuyers in Q2 think it is good time to buy than in previous quarter, percentage who think it is good time to sell rises to 67%, up from 48%; more Americans willing to pay higher prices because of declining inventory: Redfin
May 23, 2013
– Frustration with Low Inventory and Concern over Rising Home Prices Continue
Redfin (www.redfin.com), a technology-powered real estate broker, today released its latest survey of homebuyers. Data was collected from May 17 through May 21, capturing sentiment of 1,353 active homebuyers across 22 U.S. markets who had recently toured a home with a Redfin agent. The Redfin Real-Time Homebuyer Survey is a companion to the quarterly Home-Seller Survey and Agent Survey.
Respondents cite low inventory and rising prices as key concerns when shopping for a home, but while the percentage of people worried about inventory has remained steady throughout 2013, concern about rising home prices has more than doubled year over year. Despite this, homebuyers are accepting the reality of a seller's market and expressing a willingness to pay more. Notably, unease about the overall economy continues to recede.
About the Q2 2013 Redfin Real-Time Home-buyer Survey This quarter's seller survey took place from May 17 through 21, 2013. We surveyed 1,353 active homebuyers who had toured a home with a Redfin agent since February 22, 2013. The results span 22 metropolitan markets in the U.S.: Atlanta, Austin, Baltimore, Boston, Charlotte, Chicago, Dallas, Denver, Las Vegas, Los Angeles, New York, Orange County, Philadelphia, Phoenix, Portland, Raleigh, Riverside / San Bernardino, Sacramento, San Diego, San Francisco, Seattle, and Washington DC.
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Redfin (www.redfin.com) is a technology-powered real estate broker that represents people buying and selling homes. Founded and run by technologists, Redfin has a team of experienced, full-service real estate agents who are advocates, not sales-people, earning customer-satisfaction bonuses, not commissions. Redfin's online tools feature all the broker-listed homes for sale, as well as for-sale-by-owner properties that don't pay brokers a commission. The company serves 22 U.S. markets and has closed more than $8 billion in home sales. In 2012, Redfin was named one of The DIGITAL 100: World's Most Valuable Private Tech Companies by Business Insider. Follow us on our blog (blog.redfin.com), Twitter (@redfin), and Facebook (facebook.com/redfin), Redfin Collections (www.redfin.com/collections), and on our mobile apps (www.redfin.com/mobile).