Aug. 29, 2017 – Market conditions have added to the stress of buying and selling a home, according to a recent Welcome Home survey released by the Pennsylvania Association of Realtors®.
An increasing number of consumers described the process of selling their previous home as being the most stressful part of their homebuying experience.
“We’ve heard this from consumers surveyed in the past, but not to this extent,” said PAR President Kathy McQuilkin. “Nearly 7 percent of all homebuyers, and 10 percent of those aged 50-64, said that selling their home was the single most stressful part of the purchase process. Buyers between the ages of 18-34 didn’t express this worry, most likely because they’re first-time homebuyers.”
Additionally, consumers surveyed noted that homes spending less time on the market also created stress in the process. More than 11 percent of homebuyers indicated that “deciding which home was the right one” was the most stressful part of the homebuying experience.
“Consumers expressed frustration with homes spending less time on the market, which led to feeling more pressure to find the home they want and make an attractive offer knowing that other buyers are interested in the same property,” McQuilkin added. “The low inventory available is creating a challenge to consumers.”
McQuilkin said working with a Realtor® during the homebuying and seller process can help to ease the overall stress of the transaction.
“Realtors® are familiar with local market conditions and can help consumers navigate this tense process,” she said. “Real estate professionals can aid in listing your home at the right price for the market and they can assist you in making an offer that gets accepted in a competitive market. They help ease the stress of this important life event.”
The Welcome Home surveys are conducted for PAR by Keystone Analytics® and provide information on consumer homebuying trends.
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