Home Sellers Reluctant, Buyers Eager
San Francisco, CA, April 19, 2013 -- Rising home prices are putting home buyers and sellers in a dilemma, according to a survey by online marketplace Trulia.
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About three-quarters of Americans feel now is a better time to buy than next year will be.
On the flip side, only 32% believe now is a good time to sell.
Experts say this dichotomy helps explain the low inventory of homes for sale.
“As prices rise in 2013, buyers are impatient while would-be sellers are holding back," said Trulia chief economist Jed Kolko.
"Faced with limited inventory, many buyers will feel pressure to act fast – but snap decisions often end in regrets. Homeowners’ biggest regrets are wishing they bought a bigger home and wishing they remodeled more. Many buyers would have fewer regrets if they waited until they were in strong enough financial shape to afford a house that really meets their needs.”