One of the biggest questions in real estate today is, “When
will sellers return to the housing market?” An ongoing shortage of home supply
has created a hyper-competitive environment for hopeful buyers, leading to the
ultimate sellers’ market. However, as the economy continues to improve and more
people get vaccinated, more sellers may finally be in sight.
The Home Purchase Sentiment Index (HPSI) by Fannie Mae
recently noted the percentage of consumer respondents who say it’s a good time
to sell a home increased from 61% to 67%. Doug Duncan, Senior Vice President
and Chief Economist at Fannie Mae, indicates:
“Consumer positivity regarding home-selling conditions nearly matched its all-time high.” (See graph below):
Fannie Mae isn’t the only expert group noticing a rise in
the percentage of people thinking about selling. George Ratiu, Senior Economist
at realtor.com, shares:
“The results of a realtor.com survey . . . showed that
one-in-ten homeowners plans to sell this year, with 63 percent of those,
looking to list in the next 6 months. Just as encouragingly, close to
two-thirds of sellers plan to sell their homes at prices under $350,000, which
would offer a tremendous boost to affordable housing for first-time buyers.”
Bottom Line
If you’re considering selling your house, don’t wait for
more competition to pop up in your neighborhood. Let’s connect today to explore
the benefits of selling your house now before more homes come to the market.
Source: Real Estate with Keeping Current Matters
