For Sunday, January 5, 2014
POSTED: 1:30 a.m. HST, Jan 5, 2014
Homebuyers willing to pay more for less, survey finds
Real estate agents, who deal directly with buyers and sellers, are in a position to know firsthand what's on the minds of both groups when it comes to home sales.
A new report from Redfin, a Seattle-based real estate brokerage, found buyers in the fourth quarter continued to be frustrated by the slim pickings among inventory, were willing to pay more than a seller's asking price and were willing to settle for less when it comes to home features.
Redfin's national survey of 468 agents provides insight into a housing market that continues to experience tightening inventories, rising home prices and mortgage rates that continued to trend upward.
Most agents continued to think it's a good time to buy a home (56 percent versus 55 percent in the third quarter), even if 63 percent believe sellers have "unrealistic expectations" about the value of their properties.