U.S. Home Outlook Steady in Second Quarter of 2018
Posted by Regent Property Group on Sunday, July 22nd, 2018 at 3:19pm. 593 Views
Seventy-five percent of Americans believe it’s a good time to sell a house, according to recent findings from the National Association of Realtors® and released in its Housing Opportunities and Market Experience (HOME) survey. Sixty-eight percent of Americans think now is a good time to buy a house. The survey also found that most consumers think prices will continue to increase.
While these results are fairly steady from last quarter, the makeup of the results has shifted. Renters collectively have less positive feelings on buying than last quarter, with 55 percent believing it was a good time to buy in the first quarter and 49 percent believing in the second quarter that it is a good time to buy.
Buyers 65 and older have the highest percentage of optimism, with the regions of the South and Midwest also the most optimistic.
“Inventory remains the driving force in real estate, affecting everything (from) rising prices to household formation,” said NAR Chief Economist Lawrence Yun. “Improving supply conditions is critical to improving buyer optimism and helping to remove some of the barriers holding back potential first-time buyers.”
Forty-six percent strongly believe now is a good time to sell, up from 42 percent in the first quarter of 2018, and 29 percent moderately think it is a good time to sell. Yun said, “Hopefully this strong seller optimism will lead to an increase in inventory later on in the year.”
In the survey, 67 percent said homeownership strengthens communities a great deal. Of current homeowners, 76 percent believe homeownership strengthens communities a great deal.
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