Skip to content

One Quarter of Americans Say it’s a Good Time to Sell | The Niche Report

February 11, 2013

One Quarter of Americans Say it’s a Good Time to Sell

“The housing market continues to firm, with consumer home price expectations for both rental and ownership properties near the strongest levels that we’ve seen in the survey’s two-and-a-half-year history,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “Concerns about job loss are waning as payrolls are growing – a trend that may give potential homebuyers more confidence that they can meet the financial obligation of homeownership. The upward trend over the past year and a half in the share of consumers who say it’s a good time to sell may reflect two related events. First, homeowners see that home prices are improving. Second, the number of homeowners who are underwater is declining, reducing a barrier for those owners who need to sell their home in order to buy a new one.”

The average 12-month home price change expectation fell slightly from last month’s survey high to 2.4 percent.

At 41 percent, the share of those surveyed who believe home prices will go up in the next 12 months decreased by 2 percentage points from December’s survey high, while the share who believe home prices will go down returned to the survey low of 10 percent.

The percentage of those surveyed who think mortgage rates will go up decreased by 3 percentage points to 41 percent, while those who think they will go down dipped slightly to 7 percent.

Twenty-three percent of respondents say it is a good time to sell a house, up by 12 percentage points year-over-year.

At 3.7 percent, the average 12-month rental price change expectation fell 0.9 percent from last month’s survey high.

Fifty percent of those surveyed say home rental prices will go up in the next 12 months, a slight increase over December, and the highest level since the survey’s inception.

The share of respondents who said they would buy if they were going to move held steady at 65 percent.

At 39 percent, the share of respondents who say the economy is on the right track increased slightly over December.

The percentage who expect their personal financial situation to get better over the next 12 months rose by 3 percentage points to 43 percent.

Twenty-three percent of respondents say their household income is significantly higher than it was 12 months ago, holding steady from last month.

Thirty-eight percent reported significantly higher household expenses compared to 12 months ago, the highest level since December 2011.

The percentage who are concerned they will lose their job in the next 12 months declined 1 percentage point to 19 percent, a survey low.

via One Quarter of Americans Say it’s a Good Time to Sell | The Niche Report.

From → Uncategorized

Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: