So why aren t more homeowners doing it?
According to the National Association of Realtors, 8% of homes last year were sold by owners, up slightly from 7% the year before but well below the peak of 15% in 1981. About half of those owners knew the buyer, according to the 2020 NAR Profile of Home Buyers and Sellers.
That leaves about 4% of homes sold by homeowners directly to strangers, which is consistent with Zillow and Trulia data. For-sale-by-owner homes ( FSBOs ) have traditionally accounted for 4% to 5% of listings on those sites, said Haley Mills, a spokesperson for Zillow, which also owns Trulia. Overall, we are not seeing an uptick in FSBO listings in recent months, she said.