2023 Home Mortgage Rates Higher Than 5% More Likely Planned To Be Sold, Survey Says

June survey says that homeowners with 2023 home mortgage rates higher than 5% are more likely to plan on selling their houses. Further reports say almost half of these homeowners already have their houses listed for sale.

According to Marshall, a survey in June revealed that among the 1,815 homeowners from a real estate listing, those whose 2023 home mortgage rates are 5% or higher are significantly more likely to plan to sell their houses than those with lower 2023 home mortgage rates. As home listings lessen due to the currently increasing 2023 home mortgage rates, the survey suggests that supplies could increase again in the following years.

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2023 Home Mortgage Rates Findings

According to Cagnassola, among the homeowners with 2023 home mortgage rates higher than 5%, almost half have already listed their houses for sale. On the contrary, only 20% of homeowners with 2023 home mortgage rates below 5% have their houses listed for sale.

In addition, around 80% of mortgage borrowers stated that their 2023 home mortgage rates are below 5% and 90% have 2023 home mortgage rates below 6%. On the other hand, almost a third of the borrowers stated that their 2023 home mortgage rates are below 3%.

Further reports say among the homeowners with high 2023 home mortgage rates and considering selling their houses, 65% stated that the rates were a factor in their plans. In comparison, around 35% of the homeowners with lower 2023 home mortgage rates also stated the same.

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