June302015EEVREMG (pdf download)
CAR Homeowners Survey – Why They’re Not Selling
Survey of over 1000 homeowners online.
Homeowners were surveyed and majority in the last 15 years with most of them owning single family. Over half were located in the suburbs at 49%.
Median purchase price was $265,000 spread back into the 60s and 70s (explaining why lower than state median).
Two third of the homeowners surveyed had done home value research on Zillow, Realtors.com, Agent comps, appraisal, other method.
24% homeowners do not have mortgage from this survey.
Will owners sell their home? When? Why?
36% said not considering to sell, 35% said 6 or higher we considering selling, and 20% more seriously considering.
Factors to selling:
Equity Gain, Desire larger or smaller home. Change in family status, change in employment. Retirement, no longer able to afford home, children left or returned home.
Factors to not selling:
Currently it is their retirement residence, property taxes, too expensive to find something else, still waiting for more equity, cost of selling and buing is too high,mortgage on another home will be too high, may not qualify to buy another home, need the space of the house, and worried not able to find next home because of tight inventory.
States homeowners might move to: Texas, Oregon, New York, Arizona, Nevada, Washington, Florida, Colorado, Hawaii, and Idaho.
Santa Clara County Press Release:
Full Download: media-release-final-with-attachments-20151