90% of Recent Home Sellers Have Regrets, Despite Hot Market

The overwhelming majority (94%) of home sellers in 2021 and 2022 received more than one offer, leading to rushed sales and regrets.

ST. LOUIS, Nov. 3, 2022 /PRNewswire/ -- Although 4 in 5 (80%) recent home sellers sold their home at or above asking price, most still have regrets about the sale of their home, according to a new survey from Clever Real Estate, a St. Louis-based real estate company.

Clever polled 1,000 Americans who sold a home in 2021 or 2022 and found that the No. 1 regret among sellers was wishing they made more repairs prior to listing their home (25%).

Other common regrets included selling too quickly (22%), not waiting longer to list their home (24%), waiting too long to list their home (20%), not using an agent (21%), and not selling for enough money (20%). Meanwhile, 25% say they simply miss their previous home.

Recent sellers were forced to make hasty decisions — 94% received more than one offer, and more than half of those (56%) received five or more offers. More than half (54%) sold their home within a month, 19% sold in less than a week, and 8% in less than a day.

The No. 1 reason Americans cited for selling their homes was simply because it was a good time to sell (30%). The data confirms, however, that 2021 was more seller-friendly than 2022.

In fact, 2021 sellers were 2.5 times more likely than 2022 sellers to say they didn't make any compromises and 26% more likely to be satisfied with the profits they made on the sale. In addition, 2022 sellers were 41% more likely to experience a longer home sale and 25% more likely to make repairs.

As home prices start to fall, 1 in 3 sellers (35%) still received more than the asking price, with 70% of those receiving more than 10% above asking price.

Regrets aside, as interest rates continue to rise and the market cools off, 78% of recent sellers still say they are happy with the timing of their sale, and 65% believe the market is worse now than when they sold, with 31% saying it's now a bad time to sell.

Read the full report at: https://listwithclever.com/research/home-sellers-2022

Clever Real Estate was founded in 2017 with the mission of making buying and selling real estate easier and more affordable. Clever's primary service matches sellers and buyers with local real estate agents, providing lower rates for the client and leads for the agent. To date, Clever's agent network includes 12,000 agents across all 50 states.

Please contact Jaime Seale at [email protected] to be connected with a researcher with any questions or for an interview.

CONTACT: 
Jaime Seale
PR Writer and Strategist
Clever Real Estate
417-439-2641

SOURCE Clever Real Estate