Sellers Are Ready To Enter the Housing Market
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 improves and more people become vaccinated, more sellers may become available.
According to Fannie Mae's Home Purchase Sentiment Index (HPSI), the percentage of consumers who believe now is a good time to sell a home has risen from 61 percent to 67 percent. Doug Duncan, Fannie Mae's Senior Vice President and Chief Economist, says:
“Consumer positivity regarding home-selling conditions nearly matched its all-time high.” (See graph below):
Fannie Mae isn't the only expert group that has noticed an increase in the number of people considering selling their home. According to George Ratiu, Senior Economist at realtor.com,
“According to the findings of a realtor.com survey, one out of every ten homeowners plans to sell this year, with 63 percent planning to list within the next six months. Similarly, nearly two-thirds of sellers intend to sell their homes for less than $350,000, which would provide a significant boost to affordable housing for first-time buyers.”
If you're thinking about selling your home, don't wait for more competition to appear in your area. Let's get together today to discuss the possibilities.