The National Association of Realtors (NAR) recently released the findings of their Q2 Homeownership Opportunities and Market Experience (HOME) Survey. The report covers core topics like, â€œif 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 [an] outlook on the U.S. economy.â€?
The survey revealed that 75% of homeowners think now is a good time to sell, compared to 70% last quarter. This is a considerable increase from more than a year ago when 66% agreed.
Even though homeowners believe that now is a good time to sell, many have not taken the step to list their homes, as inventory shortages still exist across the country. Lawrence Yun,Â NARâ€™sÂ Chief Economist, had this to say:
“There are just not enough homeowners deciding to sell because theyâ€™re either content where they are, holding off until they build more equity, or 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 while contributing to price appreciation that remains far above income growth.â€?
If you are wondering if now is a good time to sell your house, letâ€™s get together to discuss the opportunities available in our market.
Source: Keeping Current Matters