4% Mortgage Rates and Soon-To-Be Retirees Causing Seller’s Market to Shift, According to HomeLight’s Top Agent Insights Summer/Fall 2021 Report
Summary
HomeLight, the real estate technology platform transforming the home buying and selling process for the top real estate agents and their clients, today published its Top Agent Insights Summer/Fall 2021 Report demonstrating how the new hybrid workweek and post-vaccine mindset are shaping the preferences of today’s homebuyers and sellers. “This is really the first time since the 1950s that homebuyers have started thinking about homes in a truly different way,” said survey participant Lindsay Mann-Emerson, a top Colorado real estate agent in the HomeLight network. “I believe the pandemic and subsequent lockdowns changed the housing market, the way we view housing, the needs we have, and what ‘home’ means to people forever.” New data forecasts homebuyer behavioral change and indicates why inventory may be unlocked in the latter half of 2021: Home seller FOMO is real – for almost-retirees in particular: Many agents say that high prices could encourage more sellers to list by stoking a ‘carpe diem’ reaction – nearly half (48%) of agents say they expect this sense of FOMO to unlock more listings in 2021. 61% of agents agree the type of seller most likely to be motivated by today’s high prices are almost-retirees who are cashing out a few years earlier than planned to boost their savings. The HomeLight Elite Agent™ program partners with top real estate agents based on their performance, use of client-friendly products, and client satisfaction scores.