How Buyers and Sellers Feel About Today's Housing Market
(Family Features) In the hottest real estate market in a generation, homes are flying off the market at record pace, there’s fierce competition among buyers and there’s limited housing supply to meet growing demand.
Many first-time buyers are wondering how they’ll be able to achieve their dreams of homeownership while many sellers are in a bind and asking, “How will I find my next home?”
Leading digital real estate platform Opendoor has dug deeper into how the red-hot housing market is affecting Americans across the country. Now, it’s revealing the feelings of home buyers and sellers across generations, from Zillennials, the micro-generation born between 1993-1998, and Millennials to Generation X and Baby Boomers.
Housing Optimism on the Horizon
There’s no doubt about it: it’s a seller’s market. Most Americans predict the current state of the market will continue. In fact, across generations, 71% believe the housing market will get even better for sellers with most agreeing now is a good time to sell.
Despite rising home prices, the majority of those surveyed (73%) agree buying a home is also a good investment right now with 53% of respondents expecting the available inventory on the market to increase.
Overcoming the Homeowner’s Dilemma
While many homeowners have reaped the benefits of the seller’s market, two-thirds of sellers are also buyers, and they are feeling the stress of finding their next home. In fact, 32% of sellers said finding their next home is a top concern.
This is where Opendoor comes in, providing a simple way to buy, sell and trade homes in one seamless transaction. Homeowners can sell their homes directly, bypassing the hassle of staging, showings and conducting repairs. They receive a cash offer and can move on their timeline. Meanwhile, buyers have the ability to compete in today’s market by presenting a contingency-free cash offer.
Buying with an Edge
In this market, homes are going above asking price, and buyers are coming in with all-cash offers or waiving contingencies to make their offer stronger. However, not everyone has enough cash on hand.
However, buyers who use an Opendoor-backed offer provide the certainty of an all-cash offer to the seller, free of financing, appraisal and home sale contingencies, even if you need a home loan, with no surprises, extra work or additional costs.
The real estate market can be competitive, stressful and intimidating, but it doesn’t have to be. Find more tips to navigate the home buying and selling process at Opendoor.com.