Sellers more willing to give concessions

When exploring homeowners' views about the real estate market, a survey by American Express shows that the majority (53%) of homeowners feel the real estate market will be at its best for selling in two or more years. When it comes to purchasing a home, 47 percent of the general population, 65 percent of affluents and 62 percent of young professionals think the real estate market is at its best now. More than half (55%) of young professional homeowners are confident they would get the asking price for their house at this point in time, yet they (31%) remain more flexible than the general population of homeowners (21%) in willingness to sell their house for less than the asking price. In comparison to the general population of homeowners, young professional homeowners are also more willing to negotiate to close a real estate deal. Eighty-seven percent of young professional homeowners are willing to make concessions to sell their homes, compared with 60 percent of the general population and 70 percent of affluent homeowners.

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