- Selling is sounding more appealing to Americans. The percentage who reported now is a good time to sell zoomed to a record high in May, according to Fannie Mae’s latest Home Purchase Sentiment Index. The survey is based on about 1,000 Americans who share their views about the housing market.
“High home prices have led many consumers to show us that they think it’s now a seller’s market,” says Doug Duncan, Fannie Mae’s chief economist. This is the first clear sign from the National Housing Survey’s seven-year history! “However, we continue to see a lack of housing supply as many potential sellers are unwilling or unable to put their homes on the market. This may be due in part to concerns over finding an affordable replacement home. And, prospective homebuyers are likely to face continued home price increases as long as housing supply remains tight.”
Here are some additional insights from the latest index reading:
- 32%: The net percentage of those who say now is a good time to sell, a 6% month-over-month increase, and a new survey high.
- 71%: The net share of Americans who say they are not concerned about losing their job, a 6% drop month-over-month.
- 18%: The net share of Americans who say their household income is significantly higher than it was 12 months ago, up 5%.
Source: Daily Real Estate News