Survey shows potential homesellers are hesitating to actually list their homes

Most homeowners who want to sell recognize now is the time, however, concerns about finding their new home, as well as property values possibly falling, are causing them to hesitate, according to a recent Redfin survey.

Nearly half, 45 percent, of more than 1,700 homeowners surveyed reported they are planning on selling their home, but the majority said they don’t know when they will sell. Of those who indicated they are going to sell, 7 percent already have their homes on the market, while 14 percent plan to put their house on the market in the next six months, and 63 percent don’t know when they will put a “for sale” sign on their home.

So, why the wait? The two biggest concerns for homeowners is not being able to find a “suitable replacement home” and that their property value will decrease before their house sells. Both options represented 32 percent of respondents’ answers.

However, of those surveyed, 42 percent agreed that now is a good time to sell in their neighborhood, which is an 8 percent point increase over October 2015’s results. Meanwhile, 8 percent believe now is a bad time to sell, a decline of 5 percentage points from the same time last year.

Sixty-eight percent of homeowners reported that they think home prices will increase in 2017, while only 5 percent believe they will fall. This is actually a decrease from 2015, where 71 percent of homeowners believed prices would rise in the next year.

Why are homeowners looking to move? Thirty-six percent want to upgrade their home, and 23 percent are looking to make a profit.