The spring 2022 real estate markets are moving in tandem with shifting macro trends. The imbalance between supply and demand remains a dominant feature of the landscape, pushing list prices to new highs. At the same time, rising inflation combined with the change in monetary policy has resulted in an over 200 basis point surge in mortgage rates over the past four months. In the process, many buyers are being priced out of the market. Meanwhile, home sellers, who have been firmly in the driver’s seat for the past year and a half, are finding more competition from other sellers, as the number of new listings grows higher compared with a year ago.

Importantly, a noticeable share of sellers in 2022 are trying to buy their next home at the same time, adding complexity to an already challenging task. While sellers stand to cash out record-high equity upon closing on their home, they are also facing higher prices and interest rates on their next home. While some may be faced with the potential of being locked-in by a low mortgage rate, other homeowners may find a suitable solution in a move away from a high-cost city toward a more affordable mid-sized location.

To better understand this year’s challenges for sellers also looking to purchase their next home, we surveyed homeowners across the country in partnership with HarrisX. The data highlight That many of today’s seller-buyers are younger, and looking for a change due to growing households and a search for affordability.

This year’s housing markets remain hampered by insufficient supply which is compounded by the forces of rising inflation and mortgage rates. The silver lining to the overhanging affordability clouds is that a growing number of homeowners is planning to list their properties for sale, offering a reprieve from the inventory shortage. At the same time, many of these homeowners are working through the same challenges as other buyers, seeking affordable housing options amid a landscape of rising prices and financing costs.

This report is based on data from a survey conducted online within the United States from April 15-18 among 3,212 adults by HarrisX. The sampling margin of error of this poll is plus or minus 1.7 percentage points. The results reflect a nationally representative sample of U.S. adults. Results were weighted for age by gender, region, race/ethnicity, and income where necessary to align them with their actual proportions in the population.

Source: realtor.com