Buyers and Sellers Remain Cautious

According to a survey by Redfin, an online real estate brokerage, only 28% of people feel now is a good time to buy a home. This is actually an increase from 24% in the third quarter. This is the first time since the fourth quarter of 2012 that homebuyer confidence has increased. Why isn't buyer confidence even higher? Buyers are frustrated with low inventory, increasing home prices, and increasing mortgage rates. Seller confidence is dwindling, as well. While 63% of survey respondents said "now is a good time to sell a home" in the third quarter, that percentage has dropped to 46%.

In November, Fannie Mae's National Housing Survey discovered that two-thirds of respondents think the economy is on the wrong track. Consumers are also concerned that they will get less money for their home than they would have during the summer.

Discouraged by today's housing market? Working with a professional, experienced real estate agent will help you achieve your goals in the least amount of time with the least amount of hassle. Contact me to see how I can help!