Today’s Homebuyers Want Lower Prices. Sellers Disagree.

By
Real Estate Agent with REMAX Realty Group Lic. # SL3154233

The uncertainty the world faces today due to the COVID-19 pandemic is causing so many things to change. The way we interact, the way we do business, even the way we buy and sell real estate is changing. This is a moment in time that’s even sparking some buyers to search for a better deal on a home. Sellers, however, aren’t offering a discount these days; they’re holding steady on price.

According to the most recent NAR Flash Survey (a survey of real estate agents from across the country), agents were asked the following two questions:

1. “Have any of your sellers recently reduced their price to attract buyers?”

Their answer: 72% said their sellers have not lowered prices to attract buyers during this health crisis. 

2. “Are home buyers expecting lower prices now?”

Their answer: 63% of agents said their buyers were looking for a price reduction of at least 5%.

selling a house in cape coral with remax agent

 

What We Do Know  

In today’s market, with everything changing and ongoing questions around when the economy will bounce back, it’s interesting to note that some buyers see this time as an opportunity to win big in the housing market. On the other hand, sellers are much more confident that they will not need to reduce their prices in order to sell their homes. Clearly, there are two different perspectives at play.

Bottom Line

If you’re a buyer in today’s market, you might not see many sellers lowering their prices. If you’re a seller and don’t want to lower your price, you’re not alone. If you have questions on how to price your home, reach out to your local real estate professional: Abby Stiller  to discuss your needs and next steps.

 

Information provided by KCM

 

Posted by

 

Abby Stiller 

Realtor® Lic. #3154233    

12 Years of Experience

RE/MAX Realty Group    Cape Coral Fort Myers Naples  Realtor Cape Coral      

 

I help Home buyers find their dream home & Homeowners sell for more. Thinking of buying or selling? Call/Text me: 239-284-8637   Your Honest & Dedicated Realtor!

or visit: www.TeamStiller.com

 

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Rainmaker
4,314,507
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Abby, interesting post!   Our market was going very well prior to COVID, and with our "stay at home" orders being lifted effective Monday, I expect a flood of buyers out next week.   Pretty sure there will be no deals to be had! 

Apr 20, 2020 04:27 PM #1
Rainmaker
3,617,460
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Abby - this may be another case of "dreams" versus "real life".  It happens in the best of times and those when things are not going so well.  When those sides(or ideas) meet/match it seems like magic but it's just reality. 

Real buyers buy.  Real sellers sell.  

Apr 21, 2020 04:58 AM #2
Rainmaker
539,771
Abby Stiller
REMAX Realty Group - Cape Coral, FL
Professional Bilingual Realtor (239) 284-8637

Good morning Joan Cox Same here we our market was on fire before the COVID, still moving slowly and hopefully it pick up after the stay at home orders are lifted too. 

Apr 21, 2020 06:32 AM #3
Rainmaker
539,771
Abby Stiller
REMAX Realty Group - Cape Coral, FL
Professional Bilingual Realtor (239) 284-8637

Good morning Michael Jacobs exactly what you said. We got an offer on one of our listings at full price, I think buyers saw the value and potential of this home and didn't want to miss the opportunity. Of course there are some buyers that think because of the COVID situation they can offer thousands and thousands of dollars less. 

Apr 21, 2020 06:36 AM #4
Rainmaker
3,402,479
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Abby,  I guess we will see what happens next week when we can start showing homes again and what buyers or sellers decide on.

 

Apr 22, 2020 10:10 AM #5
Rainmaker
551,665
Jeff&Grace Safrin
F.C.Tucker 1st Team Real Estate - Valparaiso, IN
SpousesSellingHousesTM

Interesting survey Abby - thanks for sharing! Indiana's governor considers real estate an essential service so we have showings and listings with CDC recommended precautions and social distancing for those home buyers and sellers who adhere and sign waivers- (sometimes they are virtual meetings or facetime walk thru's with use of masks, gloves and booties). Still, since some homeowners say do not show now - there are less options available albeit vacant homes are still showing .

Real estate is truely a local biz even during covid-19 from area to area it differs!

 Stay safe & healthy

Apr 22, 2020 10:56 AM #6
Rainmaker
539,771
Abby Stiller
REMAX Realty Group - Cape Coral, FL
Professional Bilingual Realtor (239) 284-8637

Same here Jeff&Grace Safrin Even we still able to show homes it's not the same, but glad our clients have been very understandable and willing to follow the rules. 

We can't wait when all this is over and get back to normal. Take care please stay safe. 

Apr 23, 2020 01:28 PM #7
Rainmaker
5,767,065
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thank you very much, Abby, for sharing this report.

Have a great day and a very special weekend.

Apr 24, 2020 06:30 AM #8
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Abby Stiller

Professional Bilingual Realtor (239) 284-8637
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