Century 21 Real Estate LLC, the franchisor of the world’s largest residential real estate sales organization, today announced the results of its spring home selling survey, conducted online by Harris Interactive among 2,058 U.S. adults (18+) in May, 2013. The CENTURY 21® survey revealed that 33 percent of people currently searching for a home have been on the hunt for more than a year, and that the vast majority of them are willing to negotiate with sellers and make compromises to find their next home. In particular, prospective homebuyers are willing to compromise on popular amenities and their home’s location.

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U.S. Housing Market Begins to Favor Sellers
by 24/7 Wall St. May 30th 2013 6:45AM
Home sellers finally have gotten the upper hand against buyers as the home market
haltingly recovers. According to a study titled the Century 21 Spring Home Selling
Survey:
The CENTURY 21 spring selling survey shows there are plenty of serious buyers in the market who are actively making offers, but
due to low inventory and many houses receiving multiple offers, bidding wars are becoming more common.
33 percent of those searching for a home say they have been at it for over a year, while 67 percent have been searching for up
to a year.
Offers are being made, but not many are accepted: 42 percent of those searching for homes have made an offer in the past six
months yet only 11 percent have had their offers accepted.
Current homeowners looking to buy are more than twice as likely to have their purchase offer accepted as those who rent (15 percent
vs. 6 percent). However, renters are nearly three times as likely as homeowners to report that they made an offer but couldn't agree
on price (14 percent vs. 5 percent).
And:
85 percent of home searchers are willing to go above and beyond in order to force the deal through. Of those willing to go above and
beyond, the top four comprises they'd be willing to make are:
51 percent would be flexible with the closing time.
31 percent would compromise by purchasing the house as-is.
29 percent would compromise by putting more cash down than they had planned on.
Filed under: 24/7 Wall St. Wire, Economy, Housing