Homesellers find themselves in an advantageous position this spring selling season, with a definitive 81% of recent survey respondents expecting to receive either their asking price or more in seller negotiations—and 70% of potential sellers thinking it’s a good time to sell due to the increased value of their homes and the limited inventory available—according to Realtor.com®.
Despite a lack of household formations—and a persisting housing gap that reached nearly 4 million in 2024—the market is shaping up to be busy, per Realtor.com’s latest survey. Realtor.com also predicts that given current conditions, it would take 7.5 years or longer to close the aforementioned housing supply gap in some regions—so it appears that prices may continue to rise as real estate remains one of the hottest commodities around.
Sellers have a number of reasons to pack up shop and relocate, Realtor.com’s survey found. In fact, Realtor.com’s data showed that nearly 80% of survey respondents are considering selling their home out of necessity, with potential sellers listing reasons such as “need for more space” (34%), “need to downsize” (25%) and “need to move for family” (21%) as some of the most relevant reasons why they want to sell. All of these reasons for selling took a backseat to location though, with 46% of respondents listing this as their reason to move.
The survey also found that sellers who need to sell feel very optimistic about their chances to convert, and do so quickly. While 81% of survey respondents expect to get their asking price (or a larger amount) when selling their home, 75% of respondents expected their home to sell in the average timespan it takes to sell a home or sooner. Nearly two-thirds (63%) of respondents did not expect to have to make significant concessions to buyers throughout the home-selling process.
Geographically, sellers in the Northeast and Midwest may find themselves at more of an advantage, due to an abundance of demand. In contrast, the Southern and Western regions of the U.S. may have more home-selling competition due to healthier supply.
Potential sellers are also still feeling the “lock-in effect,” wherein stubborn mortgage rates preclude a move because folks are already “locked in” at a more competitive rate—with Realtor.com reporting that 78% of survey participants expect rates to either increase or stay the same in the latter half of 2025.
Given the market’s propensity for business at this time of year, remarks by Federal Reserve Governor Christopher Waller earlier this week also hint at the possibility of a rate cut later this year, in spite of consumers’ expectations to the contrary.