Many companies featured on Money advertise with us. Opinions are our own, but compensation and
in-depth research determine where and how companies may appear. Learn more about how we make money.

By:
Originally Published: May 04, 2022
Editor:
Originally Published: May 04, 2022 Last Updated: May 18, 2022 5 min read
Aerial View Of Jackson, Mississippi
Getty Images

After more than two years on the sidelines, there are signs more homeowners might finally be ready to sell.

Eighteen percent of homeowners surveyed by Realtor.com plan on selling their homes within the next twelve months, according to George Ratiu, senior economist at the listing website. This is more than twice the 8% of homeowners that typically said they planned to sell at the start of the Spring buying season pre-pandemic and almost double the 10% of homeowners who said they planned to sell in 2021.

The survey, conducted in mid-February and published in April, also indicated that most homeowners intent on selling this year hope to do so by the end of August.

Tied for the top reason homeowners gave for moving this year was the need to find a home that better fits their family’s needs. Thirty-one percent of survey respondents said they are hoping to get more space, change location or get a needed feature such as a home office. The other top reason was the desire to take advantage of the hot housing market and the opportunity to make a profit. The median list price reached an all-time high of $405,000 in March.

Ads by Money. We may be compensated if you click this ad.AdAds by Money disclaimer
The first step to a new home is putting in the work and finding out how much you can afford
Mortgage Experts are available to get you started on your home-buying journey with solid advice and priceless information. To find out more, click on your state today.
HawaiiAlaskaFloridaSouth CarolinaGeorgiaAlabamaNorth CarolinaTennesseeRIRhode IslandCTConnecticutMAMassachusettsMaineNHNew HampshireVTVermontNew YorkNJNew JerseyDEDelawareMDMarylandWest VirginiaOhioMichiganArizonaNevadaUtahColoradoNew MexicoSouth DakotaIowaIndianaIllinoisMinnesotaWisconsinMissouriLouisianaVirginiaDCWashington DCIdahoCaliforniaNorth DakotaWashingtonOregonMontanaWyomingNebraskaKansasOklahomaPennsylvaniaKentuckyMississippiArkansasTexas
Get Started

“I think a lot of homeowners have been obviously looking at the trajectory of prices this past year and have seen the equity in their homes reach record highs,” says Ratiu. “I think for a lot of people it’s a signal that this might be, potentially, near the peak of the cycle, so might as well lock in that equity.”

Rounding out the top five reasons people are planning to list were wanting to buy a smaller house that is less work (24%), finding a less expensive home that is more affordable (21%) and wanting to live closer to family and friends (18%).

As to why a larger number of homeowners than usual may be motivated to list their homes this year, a lot may have to do with the disruptions and uncertainty caused by the first two years of the pandemic, says Ratiu.

Early lockdowns made selling a home difficult. Later on, the rise of the Delta and Omicron variants put a return to a more normal routine in question. Uncertainty over school policies on masking and in-person learning, and over businesses bringing people back to the office also made a move during last year's spring buying season a challenge.

“In a sense, [this year] is a catch-up,” Ratiu says. “It’s over two years of delayed activity about to come on the market this year.”

Ads by Money. We may be compensated if you click this ad.AdAds by Money disclaimer
Buying a new home just got a lot easier with Quicken Loans!
Who said buying a home has to be difficult? Mortgage experts can guide you with the most important information. Click below and start consulting today.
Get Started

Cities where more people are selling homes

Some homeowners have already started listing their homes. The following metro areas saw the largest year-over-year increase in new listings during the month of March, according to Realtor.com.

1. Jackson, Mississippi

Change in number of listings: ⇑ 46%

Median list price: $312,950

2. McAllen-Edinburg-Mission, Texas

Change in number of listings: ⇑ 40.5%

Median list price: $259,250

3. Fresno, California

Change in number of listings: ⇑ 27.35

Median list price: $412,450

4. Oklahoma City, Oklahoma

Change in number of listings: ⇑ 26.4%

Median list price: $344,750

5. Augusta-Richmond County, Georgia/South Carolina

Change in number of listings: ⇑ 25.4%

Median list price: $282,200

6. Little Rock-North Little Rock-Conway, Arkansas

Change in number of listings: ⇑ 24.9%

Median list price: $249,950

Correction: An earlier version of this story contained a misattributed statistic. The stat came from an economist at Realtor.com not a report published by the site.

More from Money:

A Huge Majority of Americans Think It’s a Bad Time to Buy a House

Housing Market Too Hot? What to Do While You Wait for Competition to Cool

People Think Mortgage Rates Will Cross 8% By 2025. Here’s What Experts Say