Homeowners believe that now is the best time to sell. This finding comes out of The National Association of Realtors (NAR) and their recently released reports. Their reports come from their Q2 Homeownership Opportunities and Market Experience Survey. The report covers core topics like: if now is a good time to buy or sell a home, the perception of home price changes, perceived ability to qualify for a mortgage, and outlook on the U.S. economy.
The survey revealed that 75% of homeowners think now is a good time to sell. This is compared to 70% from the last quarter. This is a considerable increase from more than a year ago when 66% of homeowners agreed.
Even though homeowners believe that now is a good time to sell, many have not taken the step to list their homes. This is because housing inventory shortages still exist across the country. Lawrence Yun, NAR’s Chief Economist, had this to say:
“There are just not enough homeowners deciding to sell because they’re either content where they are. They’re holding off until they build more equity. Or, they are hesitant seeing as it will be difficult to find an affordable home to buy. As a result, inventory conditions have worsened and are restricting sales from breaking out. This is all while contributing to price appreciation that remains far above income growth.”
If you are wondering if now is a good time to sell your house, let’s get together to discuss the opportunities available in our market.
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