Sellers’ Profits Drop From Second Quarter to Third
Sellers made a 54.6% profit on average in the last quarter, down from 57.6% in the second quarter, as home prices have begun falling from a record high in June, both across the country and in Pennsylvania.
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Are Some Sellers Becoming Reluctant to List?
New listings dropped 15% from late July until late August, which markets the largest drop since the beginning of the pandemic.
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Sellers’ Profits Hit Another Record High
Sellers’ profits reached 55.5% in the second quarter of 2022, up from 48.3% in the first quarter.
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Most Sellers Plan to Be Buyers This Year
According to realtor.com®, 72% of sellers this year are also planning to be buyers.
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What Sellers Are Expecting in Today’s Market
Forty-three percent of sellers expect their home will go for over listing price.
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Best Time to List a Home in 2022
April 10-16 is the best time for sellers to list, according to Realtor.com®.
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Sellers’ Profits Surge Amidst Price Increases
Sellers received a profit of $94,092 on average, up from $64,931 in 2020 and up 71% from $55,000 in 2019.
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Selling a Home is Costlier than Expected, Survey Says
Eighty-six percent of sellers in a recent LendingTree survey either strongly agree or somewhat agree that the homeselling process was more expensive than they had expected.
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Inventory Remains Biggest Challenge for Agents
Forty-three percent of agents said they think inventory will increase over the rest of 2020, while 33% believe it will remain steady.
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What Do You Wish Sellers Knew Before Starting the Process?
“I wish my sellers knew that it’s a seller’s market right now with extremely low inventory, and many buyers looking to purchase. Pricing the process at the correct price is very important,” said Terry Solomon-August, president of the Luzerne County Association of Realtors®.
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