Home Sellers Finding Tougher Market Conditions
Home Sellers are finding tougher market conditions as the home sales failure rate continues to climb towards 60%. What this means is that over the past 365 days, roughly 40% of the homes that were listed actually sold, while 60% failed to sell! Certainly not what home sellers were thinking when they listed.
In the real estate graph above, the green area shows the percentage of home sellers who were successful, while the red area shows the percentage of sellers who failed. As the red area continues to expand, don't be surprised if we head back to the 30% success rate that we saw before the Homebuyer Tax Credit.