October 2017

To sell or not to sell

According to Fannie Mae's National Housing Survey, more than 60% of Americans believe now is a good time to sell a home. Given rising property prices and the continuing strength of seller's markets in the U.S. — including top markets California, Nevada and Idaho — that's hardly surprising.Footnote1

But a boom in the housing market is a double-edged sword. On one hand, sellers are almost certain to get a good price for their current home. On the other, their new place will likely be more expensive.

Without an affordable buying opportunity, homeowners may choose to stay where they are. This reflects the thinking of 33% of people who think it's not a good time to navigate the property market.

When combined with the facts that 31 out of 52 states are currently seller's markets and that housing prices show no sign of slowing down, it's easy to see why a strong majority believe that now is the time to sell.

About the survey
The survey, published every month, asks 1,000 Americans more than 100 questions regarding their attitudes towards home buying and selling, price changes in the housing market and general questions about the health of the U.S. economy.

 

Sources:

1"Seller's market index by state," WeeklyWrap®, August 22, 2017.

"The Home Purchase Sentiment Index," Fanniemae.com

"More Americans think it's a good time to sell a home," Realtor.com

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