“It is not surprising sellers are opting to rent, due to the all-time high housing prices.”
By Shawn M. Carter
The housing market is red-hot and showing few signs of slowing down. Home prices were at a median $386,888 in June, according to Redfin, up 24% since last June. And demand is high: The average house lasted just 14 days on the market, a whopping 25 fewer than last year.
While that seems like welcome news to sellers looking to cash in, 45% of people told Rent.com that even after a home sale, they don’t plan to buy another house right away.
Researchers polled 2,800 homeowners in June to see how the crisis changed their plans. Here’s why people are forgoing the purchase of another house and what they’re doing instead.
Continue reading… “Nearly half of Americans selling their homes don’t plan to buy another: Here’s what they’re doing instead”

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