What to know about selling your home in the fall and winter [FOX Business Network]
Opendoor Technologies Inc (OPEN)
Company Research
Source: FOX Business Network
Still, a shift in market dynamics means sellers are now attracting buyers year-round, according to a recent report by Opendoor. Housing data from 2017 (pre-pandemic) to 2022 (post-pandemic) showed that demand from buyers has increased since 2020 during these traditionally lower seasons for selling homes, according to the report. In the three years before COVID-19, demand for homes decreased by up to 34% during the fall and winter. This trend has reversed since the pandemic. In 2020, interest in homes for sale jumped 12% from summer to fall, likely due to pent-up pandemic demand. The same trend is observable in 2021 and 2022, according to Opendoor. Selling to these so-called "anytime buyers" requires some technique. For example, around 14% of homes listed in the fall and winter are eventually taken off the market because they find no buyers. However, for homes listed 10% above market price, this number increased to about 24%. That means a mispriced home is more than 70% likely to b
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