Report: Sellers may be too optimistic about offers

A March survey by Realtor.com suggests that sellers may have trouble suppressing that instinct. The vast majority of potential sellers surveyed — 81 percent — said they expect to get their asking price or more when they decide to list their home.

Yet Zillow’s latest housing report found that 23 percent of listings received a price cut in March — the highest share on record for any March since 2018 — indicating that the original asking price was too high.

If the market remains on its current trajectory, sellers looking for a speedy sale may have to price lower than they’d like — or be willing to reduce prices later if buyers aren’t biting.

via Real Estate News