Where are all the sellers?

ReadySteadyPop

atw_uss said:

@Combenew I feel your pain! We have been house-hunting for 6 months now, previous house sold, money burning a metaphorical hole in the pocket.

We’re pretty flexible, cash buyers, ready to move, but utterly frustrated by the market in the area we’re looking at. Lots of sellers unwilling to negotiate despite a falling market and so many properties with additional issues. Very few new properties coming up for sale. 

I hope you find what you want soon. 

This is definitely a big problem now.

strawb_shortcake

We're putting our house on the market once we're back off holiday and the estate agent is also back, so will be going on mid August.
So far there hasn't been a huge amount on in our chosen area and within budget, annoyingly one that was pretty much perfect came on and sold within days of us going on holiday. 

ReadingTim

The link between supply and demand is price:

• When price is high, supply will be high, but demand low.  
• When price is low, supply will also be low, but demand high.

Your demand is high but you're finding supply low, suggesting your price is too low.  Or your expectations too high.  Either way, you're both part of the problem, and part of the solution.  

caprikid1

"Lots of sellers unwilling to negotiate despite a falling market and so many properties with additional issues. Very few new properties coming up for sale. "

I doubt house prices have materially dropped from when you negotiated on your, unfortunately if you were trying  a Sell to Rent strategy it rarely works.

With no rate rises on the Horizon and more likely rate cuts be careful in trying to negotiate too hard. 

Cash buyers are better is a myth, few sellers really care and many think cash buyers are less invested and perceive there position stronger than it is leading too a stand off at negotiations.

Forever homes are never about price, all houses look cheap after 30 years.

ReadySteadyPop

ReadingTim said:

The link between supply and demand is price:

• When price is high, supply will be high, but demand low.  
• When price is low, supply will also be low, but demand high.

Your demand is high but you're finding supply low, suggesting your price is too low.  Or your expectations too high.  Either way, you're both part of the problem, and part of the solution.  

Not really, everyone viewing a house to buy already lives somewhere, prices have been high for many years but we are told there is a "shortage" of houses, sales used to be around 100k a month every month (even when prices were high) In the last proper crash (late 80`s to mid/late 90`s) prices fell but supply jumped as people tried to offload property, in some cases to pay off other debts, but very few people wanted to buy it. Your first sentence is close to the truth, but not quite the full picture, the link, the glue that held it all together was cheap mortgage debt, now no longer available.