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A record number of Americans in October felt that it was a great time to sell a home. Undercutting that, fewer Americans felt it was a good time to buy one.
Fannie Mae’s October
national housing survey revealed that 44 percent of Americans feel now is a good time to sell, a record high. On the other hand, 65 percent felt it was a good time to buy, which is 3 percent less than September, and the same share measured in October 2013.
Fannie Mae Chief Economist Doug Duncan said there might be good news buried in those numbers.
“The narrowing gap between homebuying and homeselling sentiment may foreshadow increased housing inventory levels and a better balance of housing supply and demand,” he commented in a press release. “These results may help drive a healthier housing market in 2015.”
In October 2013, only 37 percent of owners said it was a good time to sell.
Fannie Mae also found that more consumers feel that mortgage will go up, and that the average 12-month home price change will be 2.8 percent.
The share of consumers who said they would buy a home if they moved fell to 65 percent from 66 percent this past September. More consumers felt it would be difficult to get a mortgage in October, while the share who felt it would be easy remained the same at 48 percent.
Fewer consumers reported that their personal financial situation would get worse, while 45 percent felt their financial situation would get better, 1 percentage point better than September.
Questions? Contact Neal McNamara at (425) 984-6017 or firstname.lastname@example.org.
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