The Majority of Consumers Believe Now is a Good Time to Sell Your Home
If you're thinking of selling your property, you're definitely trying to figure out when the optimum time is. To schedule it just right, you're probably balancing a lot of factors, such as your shifting requirements, where you'll go when you sell, and today's mortgage rates.
Recent data suggests that the sweet spot may already exist. According to Fannie Mae's latest Home Purchase Sentiment Index (HPSI), 76 percent of customers believe now is a favorable time to sell.
The graph below depicts the percentage of respondents that believe now is a good time to sell a home. Consumer mood decreased at the start of the pandemic as concern about the health situation deepened, as evidenced by the large drop in March and April 2020. Since then, the percentage has steadily increased as more people believe this is the right moment to sell.
In fact, survey participants believe now is a better time to sell a home than it was in 2019, which was a good year for the housing market. The results of the most recent survey show one of the highest peaks in seller sentiment in nearly three years (see graph below):
What Makes Today a Good Selling Day?
One of the reasons so many people believe now is a good time to sell is that there are still more buyers than homes for sale in today's market. As a result, property prices are rising, making it a favorable time to sell.
And if you're on the fence about selling because you're not sure where you'll go once you do, keep in mind that you may have more options today than in prior months. Because the number of homes on the market has increased each month since the beginning of the year. When more houses come on the market, you have a better chance of finding one that suits your changing requirements.
While the number of properties for sale is increasing, providing you more options for your relocation, overall inventory remains low. That could indicate that now is a good time to sell. Let's contact if you're ready to meet your evolving needs and take advantage of today's favorable conditions.