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- There are still sellers with low equity: Believe it or not, there are still some sellers out there who are not quite where they need to be with equity. I recently saw a stat that said around 19% of sellers are still in the low equity or no equity status.
- Many potential sellers refinanced after the bust: Because many people refinanced after the market crash, they now plan to stay put for a bit longer. About 16% of all potential sellers are those who refinanced with very low interest rates.
- A lot of people purchased within the last 7 years: About 14% of potential sellers purchased a home within 7 years, so we probably won’t see them putting their homes on the market anytime soon.