Home owners 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. Thanks to increased job and income growth, more consumers are viewing the current selling climate more optimistically, which could help reverse the low inventory.
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.
“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.
“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, chief economist at Fannie Mae.
Source: Fannie Mae