Welcome!

News Feed Item

LendingTree Survey Reveals 71% of Current Homeowners are Contemplating Selling in 2014

A recent survey shows that current and potential homeowners have a positive outlook on the US housing market and economy for 2014, despite the anticipation of higher mortgage rates.

CHARLOTTE, N.C., Jan. 22, 2014 /PRNewswire/ -- According to a recent LendingTree survey conducted online by Research Data Technology, Inc. from December 20-28, 2013, current and potential homeowners have a generally optimistic outlook on the US economy and housing market.  More than two-thirds (69 percent) of respondents have a positive outlook on the housing market and 63 percent expect the US economy to continue to improve in 2014. Because of the optimistic outlook and improving home values, 71 percent of current homeowners said they are considering selling their home in the next 12 months, making 2014 an active year in the housing market.

(Logo: http://photos.prnewswire.com/prnh/20110518/MM04455LOGO )

Rising Rates and Future Home Sales

The survey shows that 74 percent of current and potential homeowners expect mortgage rates to be higher 12 months from now. Most (60 percent) anticipate a moderate uptick in mortgage rates while 14 percent expect rates to be considerably higher 12 months from now. 

Despite the expected increase in mortgage rates, current and potential homeowners don't expect to shy away from the housing market.  Of the 71 percent of homeowners who are thinking about selling in 2014, 24 percent plan to sell their home regardless of any home value increase or decrease while 47 percent say they plan to sell if they experience an increase in their home value. Only 15 percent of homeowners say they are not contemplating a sale in 2014, and 15 percent are undecided.

Potential home sales are driven largely by younger homeowners, with 90% of homeowners under 30 considering selling their home in 2014 and 78 percent of homeowners aged 30-39 contemplating selling their home in the next 12 months.

"As home values continue to improve across the country, sellers who have been sidelined due to low property values will start to take action in the market," said Doug Lebda, founder and CEO of LendingTree. "Although it's unlikely that 70% of current homeowners will sell their home this year, it's a positive sign for the housing market that more homeowners are considering the possibility of moving. In the next 12 months, new construction and the overall US jobs market will be key factors for continuing a housing market recovery."

Rising Home Prices – Perception vs. Reality

According to the survey, 72 percent of respondents stated home prices in their area increased during the past 12 months, while 20 percent believe home values declined and 8 percent thought home values remained flat.  To compare current and potential homeowner perceptions with reality,  S&P/Case-Shiller Home Price Indices data collected through October 2013 showed that the 10-City and 20-City Composites posted year-over-year gains of 13.6 percent.

In the areas where home values were believed to have improved, prices increased an average of 10.2 percent, according to the survey.  This figure closely matches the National Association of Realtor's reported US home price increase of 12 percent for 2013.  For those that believe home values declined in their areas, 9.2 percent is the average perceptive drop in home prices.

The perception that home prices increased is not equally distributed across the US, according the survey data. Seventy-nine percent of current and potential homeowners in the West believe home prices are higher today than one year ago, compared to 67 percent of individuals in the Northeast with the same view.

About the Survey
Survey results are based on 609 individuals who currently own their home or are considering purchasing a home within the next 12 months.  These homeowners and potential homebuyers participated in an online survey conducted by Research Data Technology, Inc., on behalf of The LendingTree, from December 20, 2013 through December 28, 2013.  The 609 respondents represent a targeted sample of homeowners and potential homebuyers that were selected from a consumer panel of individuals in the US with access to the Internet.  The margin of error in this survey is ±4%.  This means that in 19 cases out of 20, survey results based on 609 respondents will differ by no more than 4.0 percentage points in either direction from what would have been obtained by seeking the opinions of all eligible individuals who are online.

About LendingTree, LLC
LendingTree, LLC is the nation's leading online source for competitive home loan offers, empowering consumers during the mortgage, refinance or auto loan process.  LendingTree provides an online marketplace which connects consumers with multiple lenders that compete for their business, as well as an array of online tools and information to help consumers find the best loan. Since inception, LendingTree has facilitated more than 30 million loan requests and $214 billion in closed loan transactions. LendingTree provides access to lenders offering mortgages and refinance loans, home equity loans/lines of credit, and more. LendingTree, LLC is a subsidiary of Tree.com, Inc. (NASDAQ: TREE). For more information go to www.lendingtree.com, dial 800-555-TREE, join our Facebook page and/or follow us on Twitter @LendingTree.

MEDIA CONTACT:
Megan Greuling
(704) 943-8208
[email protected]

SOURCE LendingTree, LLC

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Organizations planning enterprise data center consolidation and modernization projects are faced with a challenging, costly reality. Requirements to deploy modern, cloud-native applications simultaneously with traditional client/server applications are almost impossible to achieve with hardware-centric enterprise infrastructure. Compute and network infrastructure are fast moving down a software-defined path, but storage has been a laggard. Until now.
We're entering the post-smartphone era, where wearable gadgets from watches and fitness bands to glasses and health aids will power the next technological revolution. With mass adoption of wearable devices comes a new data ecosystem that must be protected. Wearables open new pathways that facilitate the tracking, sharing and storing of consumers’ personal health, location and daily activity data. Consumers have some idea of the data these devices capture, but most don’t realize how revealing and...
Kubernetes is a new and revolutionary open-sourced system for managing containers across multiple hosts in a cluster. Ansible is a simple IT automation tool for just about any requirement for reproducible environments. In his session at @DevOpsSummit at 18th Cloud Expo, Patrick Galbraith, a principal engineer at HPE, discussed how to build a fully functional Kubernetes cluster on a number of virtual machines or bare-metal hosts. Also included will be a brief demonstration of running a Galera M...
Unless your company can spend a lot of money on new technology, re-engineering your environment and hiring a comprehensive cybersecurity team, you will most likely move to the cloud or seek external service partnerships. In his session at 18th Cloud Expo, Darren Guccione, CEO of Keeper Security, revealed what you need to know when it comes to encryption in the cloud.
"We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"We are an all-flash array storage provider but our focus has been on VM-aware storage specifically for virtualized applications," stated Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
It's easy to assume that your app will run on a fast and reliable network. The reality for your app's users, though, is often a slow, unreliable network with spotty coverage. What happens when the network doesn't work, or when the device is in airplane mode? You get unhappy, frustrated users. An offline-first app is an app that works, without error, when there is no network connection. In his session at 18th Cloud Expo, Bradley Holt, a Developer Advocate with IBM Cloud Data Services, discussed...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at 20th Cloud Expo, Ed Featherston, director/senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Between 2005 and 2020, data volumes will grow by a factor of 300 – enough data to stack CDs from the earth to the moon 162 times. This has come to be known as the ‘big data’ phenomenon. Unfortunately, traditional approaches to handling, storing and analyzing data aren’t adequate at this scale: they’re too costly, slow and physically cumbersome to keep up. Fortunately, in response a new breed of technology has emerged that is cheaper, faster and more scalable. Yet, in meeting these new needs they...
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busin...
According to Forrester Research, every business will become either a digital predator or digital prey by 2020. To avoid demise, organizations must rapidly create new sources of value in their end-to-end customer experiences. True digital predators also must break down information and process silos and extend digital transformation initiatives to empower employees with the digital resources needed to win, serve, and retain customers.
"We are the public cloud providers. We are currently providing 50% of the resources they need for doing e-commerce business in China and we are hosting about 60% of mobile gaming in China," explained Yi Zheng, CPO and VP of Engineering at CDS Global Cloud, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...