More Americans think selling is a good idea
The percentage of Americans who reported now is a good time to sell zoomed to a record high in May, according to Fannie Mae’s latest Home Purchase Sentiment Index. Meanwhile, the net share of Americans who say now is a good time to buy fell 8 percentage points and reached a record low last month.
“High home prices have led many consumers to give us the first clear indication we’ve seen in the National Housing Survey’s seven-year history that they think it’s now a seller’s market,” says Doug Duncan, Fannie Mae’s chief economist. “However, we continue to see a lack of housing supply as many potential sellers are unwilling or unable to put their homes on the market, perhaps due in part to concerns over finding an affordable replacement home. Prospective homebuyers are likely to face continued home price increases as long as housing supply remains tight.”
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