More Homeowners Say Now is a Good Time to Sell

Fannie Mae’s National Housing Survey reported that soaring home prices were the instigator behind an eight-point increase is a sign that now is a good time to sell.  ​62% of Americans said that now is a good time to sell up from 58%, while 26% of participants said that today is not a good time to sell down from 30%.

CoreLogic reports house prices are now up 6.7% above last year, and 78.8% of homeowners with a mortgage in the nation now have significant equity as defined as 20% or higher.
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While home prices are increasing, more and more homeowners realize that today is a good time to sell their homes to take advantage of the additional equity they now have.

At the same time, however, rising prices have had the exact opposing impact on the good-time-to-buy scale as many buyers are worried that they will not be able to afford a home, the net score dropped five points to eighteen%.

Vice President & Chief Economist at Fannie Mae, Doug Duncan had said “In the beginning stages of the economic growth, home selling sentiment trailed home buying sentiment by a notable margin. The opposite is true now.  The net favorable time to sell share is now twice the net good time to buy the share, with record high percentages of customers indicating home prices as the primary reason for both perceptions. Such a sizable gap between buying and selling sentiment, if it continues, could weigh on the housing market through the remainder of the year.”

Demand for homes continues to outpace the available homes for sale, which has driven prices up across the nation. Until the supply starts to match market demand better, there will be a gap between the sentiments surrounding buying and selling.
Bottom Line

If you are contemplating to list your home for sale this year, now is the time!