Agent Optimism Leaps as Market Heats Up

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Redfin Agents See Spring 2013 as a Seller’s Market; 97% Believe Home Prices will Continue to Rise

For the latest Redfin Real-Time Agent Survey, we surveyed 650 agents around the country, including both Redfin-employed agents and Redfin partner agents. This quarter’s survey showed a dramatic shift in agent outlook from being a buyer’s market to a seller’s market. Nearly all agents believe the home prices will rise.

Real estate agents surveyed by Redfin:

  • See now as a good time to sell a home more often than a good time to buy one: 82% of agents surveyed described now as “a good time to sell,” while only 57% described it as “a good time to buy.” This is a total reversal from the third quarter of 2012, when 54% said it was a good time to sell and 75% said it was a good time to buy.
  • Are confident of upcoming price gains: 97% of agents believe home prices will rise in the coming months, versus 87% in the third quarter. 44% expect home prices to “rise a lot,” up from just 11% in the third quarter.
  • Are feeling the pinch of low inventory and multiple offers: 96% of agents pointed to low inventory and multiple offers as the most common challenges facing buyers, up from 90% and 91%, respectively, in the third quarter.
  • Believe sellers are gaining more confidence in the market than buyers: 98% of agents agreed that sellers are becoming more confident about the market, and 83% agreed that buyers are becoming more confident.
  • Are more optimistic about the future of the real estate profession: 74% of agents believe that the real estate profession will grow in size in the next five years, up from 59% in the third quarter. Only 6% believe it will decline, down from 12% in the third quarter.

For the full report including data tables and charts, visit the Real-Time Market Sentiment in Redfin’s Research Center.

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tim-ellisredfin-com

Senior Data Journalist / Real Estate Analyst

Tim Ellis has been analyzing the real estate market since 2005, and worked at Redfin as a housing market analyst from 2010 through 2013 and again starting in 2018. In his free time, he runs the independently-operated Seattle-area real estate website Seattle Bubble, and produces the "Dispatches from the Multiverse" improv comedy sci-fi podcast.

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