More Americans Say Now is a Good Time to Sell!
September 21, 2017 | Curtis Lee
Recently released data from Fannie Mae’s  National Housing Survey revealed that rising home prices were the catalyst behind an  eight-point jump in the net percentage of respondents who say now is a  good time to sell. The index is now 21 points higher than it was this  time last year.
Overall, 62% of Americans surveyed said that now is a good time to  sell (up from 58%), while 26% of respondents said that now is not a good  time to sell (down from 30%). The net score is the difference between  the two percentages, or 36%.
According to CoreLogic, home prices are now up 6.7% over last year and 78.8% of homeowners with a mortgage in the US now have significant equity (defined as 20% or more).
As home prices have increased, more and more homeowners have realized  that now is a good time to sell their homes in order to take advantage  of the extra equity they now have.
At the same time, however, rising prices have had the exact opposite  impact on the good-time-to-buy scale as many buyers are nervous that  they will not be able to afford a home; the net score dropped 5 points  to 18%.
Doug Duncan, Vice President & Chief Economist atFannie Mae, had this to say,
“In the early stages of the economic expansion, home  selling sentiment trailed home buying sentiment by a significant margin.  The reverse is true today. 
The net good time to sell share is now double the net good time  to buy share, with record high percentages of consumers citing home  prices as the primary reason for both perceptions. Such a  sizable gap between selling and buying sentiment, if it persists, could  weigh on the housing market through the rest of the year.”
Buyer demand continues to outpace the supply of homes for sale, which  has driven prices up across the country. Until the supply starts to  better match demand, there will be a gap between the sentiments  surrounding buying and selling.

Bottom Line

If you are considering listing your home for sale this year, now is the time! Contact The Murphy-Lee Group for your free no obuligation consulttation at 732-903-5692 today.


SOURCE:KEEPING CURRENT MATTERS

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