Finding A Home To Buy A Factor For Sellers

Written by: Susan Richwine |

If you're selling your house, you're also looking for a new place to live. In many cases, that means buying another home. Which is why a recent survey from the National Association of Realtors' consumer website found finding a home to buy among the top concerns for today's potential home sellers. It makes sense. Before you put your home up for sale, you have to weigh the available homes in your target area and the financial costs of making the move. In other words, you have to have a plan, especially in today's market.

Danielle Hale, the website's chief economist, says some households are better positioned than others. “Many sellers are likely future buyers too, which may be why a majority of would-be sellers report feeling 'locked-in' to their current home because of a low mortgage rate, especially younger homeowners,” Hale said. “But older seller-buyers, who are likely to have a smaller mortgage balance and built up greater equity, are less likely to report feeling locked-in by a low interest rate and are more likely to report that they need to sell anyway.”