Homebuying Optimism Improves in the Second Quarter
According to the National Association of Realtors® (NAR), more Americans believe that now is a good time to buy a home. In their second quarter Housing Opportunities and Market Experience survey, the number of respondents who strongly believe it's time to buy increased to 38 percent.
What's driving the boost in optimism? First of all, home price increases are slowing down. While it's true that homes are getting more expensive, they're doing so slowly enough for buyers to catch up. Second of all, more Americans believe the economy is improving.
Home sellers' optimism has also increased. 45 percent of sellers now believe that it's a good time to sell, up from 37 percent in the first quarter. This is likely due to the fact that they're more confident that their home will sell as more buyers enter the market. If more Americans put their homes up for sale, it will help to relieve inventory shortages and lead to a more balanced housing market.