Real Estate Marketing & Beyond
Homeowners are becoming more upbeat about potentially selling their home, which should bode well for purchase activity this year, according to Fannie Mae’s June 2015 National Housing Survey, a survey of 1,000 Americans about their attitudes toward housing.
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Thanks to increased job and income growth, an increasing number of consumers are viewing the current selling climate more optimistically, which could help reverse current low inventory levels.
The share of Americans surveyed who say now is a good time to sell reached a new survey high in June, increasing three percentage points to 52 percent. It’s the first time the metric had crossed the 50 percent threshold in the survey’s history.
Also, the number of Americans who say they expect home rental prices to rise in the next 12 months also reached an all-time survey high in June at 59 percent.
“With an increase in housing supply from those ready to sell, combined with higher rental cost expectations, more potential home buyers may be encouraged to leave the sidelines,” according to Fannie Mae’s survey.
The limited inventory of homes for sale that has plagued many markets has been putting upward pressure on home prices and may also be signaling an increasing advantage to sellers. Also, renters are facing rising costs.
“Together, these results point to a healthier home purchase market, with more renters likely to find owning to be more cost-effective than renting and more sellers likely to put their homes on the market,” says Doug Duncan, senior vice president and chief economist at Fannie Mae.
Also, among the survey’s findings:
