Agent Optimism Leaps as Market Heats Up

Redfin Agents See Spring 2013 as a Seller’s Market; 97% Believe Home Prices will Continue to Rise

For the latest Redfin Real-Time Agent Survey, we surveyed 650 agents around the country, including both Redfin-employed agents and Redfin partner agents. This quarter’s survey showed a dramatic shift in agent outlook from being a buyer’s market to a seller’s market. Nearly all agents believe the home prices will rise.

Real estate agents surveyed by Redfin:

  • See now as a good time to sell a home more often than a good time to buy one: 82% of agents surveyed described now as “a good time to sell,” while only 57% described it as “a good time to buy.” This is a total reversal from the third quarter of 2012, when 54% said it was a good time to sell and 75% said it was a good time to buy.
  • Are confident of upcoming price gains: 97% of agents believe home prices will rise in the coming months, versus 87% in the third quarter. 44% expect home prices to “rise a lot,” up from just 11% in the third quarter.
  • Are feeling the pinch of low inventory and multiple offers: 96% of agents pointed to low inventory and multiple offers as the most common challenges facing buyers, up from 90% and 91%, respectively, in the third quarter.
  • Believe sellers are gaining more confidence in the market than buyers: 98% of agents agreed that sellers are becoming more confident about the market, and 83% agreed that buyers are becoming more confident.
  • Are more optimistic about the future of the real estate profession: 74% of agents believe that the real estate profession will grow in size in the next five years, up from 59% in the third quarter. Only 6% believe it will decline, down from 12% in the third quarter.

For the full report including data tables and charts, visit the Real-Time Market Sentiment in Redfin’s Research Center.

Discussion

  • Larry Lang

    Prices will continue to rise due to buyer demand and low interest rates.Regular existing home prices are not rising as much as the data shows, due to the fact that there are not as many short sales and foreclosures in the equation, which make the percentage increase look higher then it actually is.

  • http://www.casa-nova-properties.eu/ Mallorca Properties

    hmmm. really OK to buy now! thanks fro sharing!