Are homeowners warming up?
With prices rapidly rising, homeowners have been reluctant to sell, fearful of being unable to afford another home—a catch-22, because inventory is limited as it is, and compounded further when homes are kept off the market.
Now, their confidence is growing, according to the latest National Association of REALTORS® (NAR) Housing Opportunities and Market Experience (HOME) quarterly survey. Seventy-percent of Americans are optimistic about selling, with 50 percent “strongly” believing now is ideal to list, according to the survey. Less than one-quarter (22 percent) believe now is not ideal to list—a decrease from 29 percent the prior quarter.
At the same time, 70 percent of Americans believe home prices have risen this year, and 53 percent believe they will climb in the next six months—the latter a slight slip from 55 percent the prior quarter. Fifty-six percent say the amount of listings in their neighborhood has not risen, while 23 percent say there have, in fact, been more homes on the market.