SEATTLE-Redfin, the technology-powered real estate brokerage, recently released its latest survey of real estate agents, and among the response is a sentiments that the seller opportunities are tightening, and that higher interest rates could soon impact demand.

Data was collected from December 12 through December 14, and reflects responses from 468 Redfin agents in 22 major metropolitan markets across the U.S.
The Redfin Real-Time Agent Sentiment Survey is part of an ongoing series that also includes surveys of homebuyers and sellers.

Redfin real estate agents:

    --  Indicate that it is still a good time to sell, but less so: In the
        fourth quarter, 65% of agents said that now is a good time to sell,
        compared to 72% in the third quarter and 86% in the second quarter. At
        the same time, agent perspectives on buying remained steady, with 56% of
        agents saying it's a good time to buy compared to 55% last quarter.
    --  Say that buyers are ready to make concessions for the right home: In the
        fourth quarter, 35% of agents said that buyers are "willing to pay more"
        to find a home compared to this summer. At the same time, about 30% said
        buyers were "flexible on features," held "lower expectations" for how
        far their money will stretch, were "looking to new construction" because
        of limited inventory, and were "prepared to waive contingencies" to win
        a bid.
    --  Say that buyers continue to be frustrated by inventory: In the fourth
        quarter, agents cited "limited inventory" (87%) as the biggest challenge
        for buyers. Competition from bidding wars was buyers' second largest
        concern, but notably this response dropped to 65% from 79% in the third
        quarter.
    --  Report that sellers believe their home is worth more than market value:
        In the fourth quarter, 63% of agents said that sellers have "unrealistic
        expectations" about the value of their home, nearly flat from the third
        quarter. At the same time, 31% say that sellers are frustrated with the
        number of homes available that they would be interested in buying.
    --  Believe that if mortgage rates top 5.5%, it would significantly limit
        home sales and price gains: With the expectation of higher mortgage
        rates in 2014 as the Federal Reserve reduces its stimulus program, 39%
        of agents believe that rates exceeding 5.5% would harm home sales and
        price growth. At the same time, one-third of agents surveyed believe
        that mortgage rates would have to reach 6% to have that effect.

"These days, finding the right home is more difficult than ever," said Redfin Phoenix agent Marcus Fleming. "With such limited home inventory available, buyers who need to move now often have to compromise on upgrades or location to find a home that meets their budget and basic needs."

Respondents spanned 22 metropolitan markets in the U.S.: Atlanta, Austin, Baltimore, Boston, Charlotte, Chicago, Dallas, Denver, Houston, Los Angeles, Orange County, Miami, Long Island, Philadelphia, Phoenix, Portland, Raleigh, Sacramento, San Diego, San Francisco, Seattle, Washington, D.C.