For many years, when home prices and mortgage rates were both lower than normal, home buyers had a historic opportunity to find a great deal and lock in an excellent rate.
These days, though mortgage rates remain historically low, home prices have rebounded and, in some markets, surpassed previous peaks. Which explains why the most recent results of Fannie Mae's monthly Home Purchase Sentiment Index show more Americans saying it is a good time to sell a house than buy one. In fact, the number of respondents who said it was a good time to sell was up 8 percent over the month before. At the same time, the number who said it was a good time to buy fell. Doug Duncan, Fannie Mae's senior vice president and chief economist, says the survey has seen its results reversed over the past few years. “In the early stages of the economic expansion, home selling sentiment trailed home buying sentiment by a significant margin. The reverse is true today,” Duncan said. “The net good time to sell share is now double the net good time to buy share, with record high percentages of consumers citing home prices as the primary reason for both perceptions.”
But though that may sound like bad news for potential buyers, the more American homeowners put their homes up for sale, the more likely price increases will slow down and offer buyers some relief.
Author:Tim Stoll Phone: 214-868-2959 Dated: September 8th 2017 Views: 484 About Tim: It’s hard to find another real estate agent in Dallas who is as hard working, honest, experienced ...
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JP And Associates REALTORS (JPAR) is one of the top 100 independently owned brokerages in the US. A full service real estate brokerage firm specializing in real estate sales and marketing services with multiple offices across the US and expanding quickly. JPAR is also one of Real Trends top 500 Brokerages in the US for volume and sales and in the top 1% in the US for sales.
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"I can't say enough great things about Pam. She is extremely knowledgeable and put of minds at ease knowing she was handling our home purchase. She has always been available to us for any questions and very attentive. This was not my first home purchase, it's actually my fifth and so I've uncounted many Realtors over the years. I also have had a Real Estate License myself so I knew enough to know that Pam wasn't just trying to make a sale and what she was telling us was correct and honest. She really knows her stuff and is a great person to have in your court for such an important transaction!!!"