In June, Americans got a lot more optimistic about the housing market.
Both the share of Americans who believe now is a good time to sell and the share of Americans who think now is a good time to buy rose sharply from April to June, with widespread reports of rising home prices, according to Fannie Mae.
The share of respondents who say now is a good time to sell jumped 10 percentage points in June, rising from 30 to 40 percent on a monthly basis, according to the results of Fannie Mae’s 2013 National Housing Survey.
That indicates that the number of sellers confident in the housing market has more than doubled in the last year. Just 16 percent said “now is a good time to sell” in April 2012.
“Sentiment toward selling a home appears to be catching up with the strengthening housing market,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “The share of consumers who think it’s a good time to sell a home spiked this month, the largest increase in the survey’s three-year history.”
“This jump may foreshadow a gradual return to more normal levels of housing supply from their lows of recent months. In turn, increased housing supply could serve to temper increasing consumer home price expectations. We will closely watch the potential impact of rising mortgage rates on consumer housing sentiment in the coming months.”
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Gail Sutton, Gail Sutton Properties, is an experienced real estate professional. For 20+ years, Gail has served hundreds of clients, and bought and sold hundreds of millions of dollars in real estate. Gail's passion is helping individual clients enjoy the buying and selling process by fulfilling their dreams of quality home ownership. Gail Sutton KNOWS the real estate market in the Colorado Springs, CO. region. Give her a call to discuss your plans to buy that perfect home for you or sell and list your home, gather information, and find out what Gail can do to get you the best market price with the least time on the market!
reprint: Inman News
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