Now is a good time to buy a home, if you believe the latest Spending and Saving Tracker from American Express. According to the findings, 41 percent of Americans think it is a buyer’s market for real estate right now, but 61 percent of them believe a seller’s market is not quite here and may take up to a year.
43 percent are confident they would receive the asking price for their home if they sold it, but 47 percent were either “not very confident” or “not at all confident”. In other words, although homeowners think they could get a good deal buying a home, they still think they will not be able to sell homes for what they are worth.
What does all this really mean? Should you rush out and start buying based on these findings? Probably not. If the market is good for buyers right now, it will not be the result of a survey. While 61 percent of people may believe it is a seller’s market, it is quite possible that the actual numbers do not coincide with their beliefs. Furthermore, people’s opinions on whether or not they will actually receive the amount they believe their homes are worth is just conjecture.
If you actually want to obtain any meaningful insight that will help you navigate through the murky waters of U.S. real estate, it is probably a better idea to look at solid research, current trends, and reliable market predictions.