Sellers Waiting in the Wings Could Pose A Problem

There are many homeowners who would like to sell but aren’t financially required to do so. Many of these people are waiting in the wings for the opportune moment to jump back into the housing market. In fact, Zillow.com reported about 7% of homeowners surveyed said they were very likely to put their home on the market this year if they believed the housing market was improving. In addition to this already existing group, the number of homes with equity has grown this year, from 52% last year to 63% this May. This could pose a problem since many of these sellers will have unrealistic views about how much their homes are worth which in turn could influence the housing market.