According to Opendoor’s new First-Time Home Seller Report, the COVID-era buying spree is not only over, it is biting back.
The low-interest rate buying frenzy in 2020 and newfound flexibility with remote work led to a wave of regret – 79% of first-time home sellers admit they made mistakes, with 91% saying these errors played a major role in their decision to sell.
The biggest culprits?
- Buying too fast
- Misjudging long-term lifestyle fit
- Underestimating maintenance costs
- Assuming remote work was forever
These regrets could be fueling a shift away from the traditional “forever home” mentality. Once seen as the ultimate goal, it now feels unrealistic for many, especially with changing lifestyles and economic pressures. In fact, 68% of first-time home sellers no longer see it as attainable, and 81% are selling what they once thought would be their lifelong home.
Read full report here:
0 Comments