Real estate markets have experienced strong advances during the pandemic year, rebounding from the quarantine lows of 2020 with over nine months of double-digit price gains. Along with historically-low mortgage rates, markets were beset by a significant imbalance between strong demand and insufficient supply.
For buyers, these trends resulted in an extremely competitive environment, marked by multiple bids with price escalation clauses, contingency waivers, and homes selling in record-short amounts of time. At the same time, sellers who entered the market were in a better position to command higher prices and realize solid gains from this price appreciation. Based on a recent realtor.com survey, conducted by HarrisX, homeowners planning to list their properties this year are aware of existing trends and intend to capitalize on them.
Close to One-in-Four Sellers Wants to Take Advantage of the Current Market
We asked American…