Low housing supply worries real estate agents, buyers | www.ajc.com

6
Jan

Low housing supply worries real estate agents, buyers | www.ajc.com

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, the real estate brokerage, found buyers in the fourth quarter continued to be frustrated by the slim pickings, were willing to pay more than a buyer’s asking price and were willing to settle for less house if it meant winning a bid.

Redfin’s national survey of 468 agents, including some in metro Atlanta, provides insight into a housing market that continues to experience tightening inventories, rising home prices and mortgage rates that continued to trend upward.

Most of the 468 agents surveyed, including some in metro Atlanta, thought it was a good time to buy a home (56 percent versus 55 percent in the third quarter) even if 63 percent believed sellers had “unrealistic expectations” about the value of their properties.

The biggest challenge, according to 87 percent of agents, was the limited inventory and clients having to compete against other bidders for a house.

via Low housing supply worries real estate agents, buyers | www.ajc.com.

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