Viewpoints on the U.S. Housing Market and Mortgage Rates are actively changing. So much so that the majority of surveyed Americans presume home prices this year will rise. Only 7% think otherwise. So do you think now is the best time to sell real estate? Read on further to find out!
Comparing to last year, home value in the majority of U.S. cities has intensely climbed leaving homeowners dominant on housing, that's according to Fannie Mae's National Survey. The agency also holds data of over a thousand U.S. Households. Previous hard-hit cities such as Phoenix, Arizona, San Francisco, and California rose by a fifth since last spring.
On the other hand, according to home evaluation trackers such as Case-Shiller Index, values are higher by an average of 7% in the national level. Consequently fewer homeowners have led to change their minds about whether it is the best time to sell real estate or their house.
About a year ago, only 16% of U.S. consumers think it's the best time to sell real estate. Today, with fewer homeowners who are in trouble with their home loans and with the stronger economy of the U.S., these figures have risen to 40%.
Here are some of the abundant reasons why homeowners should be excited to sell:
- Current Home Sales are up by 10%, yearly
- Recent Home Sales are up by 29%, yearly
- Home Supply remains on the Optimistic Territory
Moreover, the National Association of Home Builders (NAHB) informs that an excess of 70% of metropolitan regions in the U.S. are "measurable and sustained." This leaves home buyers on the hot seat with all these growth.
76% of consumers surveyed think it's a good time to buy a home.
The improving economy is lifting home prices which results to the rise of monthly expenses of homeownership. This means that mortgage rates are generally higher compared to the last 60 days. So if you're thinking of buying a home, better make sure you see how much you can afford.
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