Timing and Price Uncertainty in Home Selling

Timing and Price Uncertainty in Home Selling

Timing and Price Uncertainty in Home Selling

Timing and price uncertainty are among the most stressful aspects of the home selling process.

There’s no getting around it — selling a home is stressful.

Experiencing stress is a reality for 95% of sellers in the U.S., according to Zillow’s 2019 Consumer Housing Trends report.

Timing and price top the list of seller stresses

Breaking down the selling process into key sections, there are clearly more stressful aspects than others. Not surprisingly, the uncertainty around pricing and timing of a home sale are the most anxiety-inducing parts of the selling process.

At the top of that list is sellers not knowing whether their home will sell when they want it to – 56% of sellers find that uncertainty to be stressful. Doubts over whether a home will sell for the desired price is cited by 53% of sellers as stressful.

Next comes the double-whammy of worrying that an offer will fall through and the stress of making improvements and preparing a home for sale. And 51% of sellers say it’s stressful to time the sale of their old home with the purchase of a new one.

The younger the seller, the more stressful the process

Millennials and Gen Z sellers are more likely to say that any given aspect of selling is stressful, while stress seems to wane with more experienced sellers. For example, 55% of Gen Z sellers find it stressful to have to leave their home for tours and open houses, compared to just 21% of Silent Generation sellers.

That decrease in stress with older generations could be experience: simply having gone through the process before, and knowing what to expect. In fact, first-time sellers are more likely to say that most aspects of selling were stressful to them or their families.

The bottom line

Virtually no home seller is immune to stress in today’s market. While most stress surrounds the uncertainty of selling price and timing, there are many more aspects of the selling process that can make people uncomfortable, from making home improvements to judging the interest levels in potential buyers.

To read the full report click here, and for more helpful tips from our partners at Zillow, check out their blog!

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