As the spring season is just around the corner, American optimism towards the housing market is gaining momentum. According to the latest Fannie Mae National Housing Survey, 38% of all respondents say that now is the right time to sell a home. This is an increase of 12% in comparison to the same time last year. This clearly indicates an improvement in homebuyers’ and homeowners’ market confidence. In addition, 52% of people share the opinion that it is easier to get a mortgage in the current economy, which matches the all-time survey high. This means that great financing options, combined with motivated homebuyers and homeowners, are going to continue fuelling the economic recovery.
Moreover, Americans are now beginning to feel more comfortable with their personal finances. Only 12% are expecting their financial situations to worsen in comparison to 21% from last year. Furthermore, 40% of respondents say that their financial situation has gotten better over the past couple years, which also matches an all-time survey high. According to Doug Duncan, senior vice president and chief economist at Fannie Mae, “We see several positive signs going into this year’s spring home buying season, compared to last year. For example, consumers are less pessimistic about their personal finance, and more optimistic about the current selling environment and their ability to get a mortgage.”
The Tampa Bay area, according to the most recent census, is one of the top-10 most popular locations to migrate into in the entire country, and is known for creating a very healthy environment for its residents. We are expecting to see the continuing trend of economic growth and optimism for the rest of this year, which will increase home buyers’ and sellers’ confidence even more in the coming years.
Tampa Bay truly is a beautiful place to call home. Here at SI Real Estate, we believe that 2014 will be a very rewarding year for the housing market & the entire greater Tampa Bay area. Give us a call today at (813) 631-5144 to see what Tampa Bay has to offer for you!