Well new reports studying 1,000 first time home sellers revealed 65% would have accepted 20% less for their home to avoid the stress of preparing it for sale, aka staging repairs and the uncertainty around offers. Joining me to discuss the findings we got Carrie Wheeler, CEO of Opendoor, it's an online residential real estate platform, helping people buy and sell homes. Carrie, I I found that so surprising that other people are as lazy as me and would take less money to be able to avoid the inconvenience of staging their homes. What does that tell you about how potential home sellers are feeling in this market?

Thanks for having me. Um absolutely. The the size of that number surprised us too. I mean two-thirds of sellers saying they would have taken something less to avoid the traditional listing process of getting a ready home ready for sale, staging it, going through the uncertainty of the offer process, exposing yourself to the risk of fall throughs where one and four buyers are following through on contract. And um, I think it says that well maximizing price for sure is a priority for home sellers. This generation of sellers are also looking to prioritize convenience and certainty, particularly in this market that's been really tough for home sellers.

And talk to me about what you're seeing just in terms of any price relief for buyers. What does that look like?

Not a lot of price relief out there, frankly. Um, but it's interesting, you know, the market reports, um, home price appreciation and that's on deals that got done in the market, but we are seeing those a whole bunch of deals that are not getting done. So delistings, which are the number of home sellers on the market who are aspirationally looking to sell their home, who have given up and pulled out, that is a decade level high right now. So one and four sellers are not getting a transaction done and pulling themselves off the multiple listing service off the market. And so while home prices are going up for those who actually found a deal they liked and we're ready to accept, there's a big segment of home sellers who are frustrated by what they're seeing. They're not getting the price they want and so I think there's more softness to home prices that will may be reported today.

And I do want to also, if you can talk a little bit about just the overall housing market in this season that we're in, is there any benefit to buyers waiting for an off peak season to buy a home, especially given the interest rate environment, or would you recommend that people get in now?

Our advice for home buyers right now this spring is is be ready. Um, the market's very dynamic. We know that um, even small changes in mortgage rates right now spark buyer demand. Uh, we are seeing new listings hit the market right now. This is when home sellers show up, as your prior reporter said, post Super Bowl, people are looking to list. Um, we find that most sellers are listing in May and in June. So be ready if you're if you're a buyer. Uh, get pre-approved, know your budget and be ready to make a strong offer when the right opportunity arises.

And talk to me about just home buying in general right now, Carrie, because there are so many headwinds in this environment, so much uncertainty, so much economic uncertainty. What is your advice for home buyers who are potentially weighing the cost benefit analysis of home buying and thinking that they might want to continue renting longer?

I think that's a fair trade-off for a lot of home buyers in the market. Um, and certainly, uh, I do think that the market is, uh, continuing to pile up more and more inventory. Yes, the inventory is not at all-time highs, but it's 20% higher this time than it was last year. And the market is slow. Homes are staying on the market for longer. So I think for buyers, um, just being very attuned to what you're seeing in the market where you're trying to move into, um, things are shifting in home buyer favor right now. Certainly they're not in the sellers' favor.

Well, let's let's end there then, Carrie. What advice do you have for sellers navigating that environment?

Similar advice as I have for buyers, which is which is be ready. Um, what we're seeing right now on the home seller side is increasing competition for home. Uh, so be ready. Uh, understand that your home's price and where you listed is your first impression. Those first two weeks are really critical to gauge buyer demand. So understand, you know, what the comparable sales look like in your neighborhood and start with an Opendoor cash offer. We think that's the best way to understand the value of your home and start your selling journey, and you can have more insights in and evaluate all your options.

All right, Carrie, we got to leave it there. Thanks so much for joining us. We appreciate it.

Thanks for having me.