Seventy-one percent of homeowners say now is a good time to sell, according to the National Association of REALTORS\u00ae\u2019s second-quarter Housing<\/a> Opportunities and Market Experience (HOME) survey.\u00a0The percentage is up considerably from the 61 percent of homeowners who said it was a good time to sell last year.<\/p>\n Owners in the Midwest are the most excited about potentially selling at 76 percent, surpassing the West at 72 percent for the first time this year.<\/p>\n The rise in home prices may be persuading more homeowners to list their home. Could that lead<\/a> to more listings<\/a>?<\/p>\n Not necessarily, according to Lawrence Yun, NAR\u2019s chief economist.<\/p>\n Yun says there\u2019<\/span>s\u00a0a gap between homeowners\u2019 selling confidence and whether they\u2019ll actually\u00a0list their home.<\/p>\n \u201cThere are just not enough homeowners deciding to sell because they\u2019re either content where they are, holding off until they build more equity, or hesitant seeing as it will be difficult to find an affordable home to buy,\u201d Yun says. \u201cAs a result, inventory conditions have worsened and are restricting sales from breaking out while contributing to price appreciation that remains far above income growth.\u201d<\/p>\n Still, Yun says, the increase in seller confidence could translate to more added inventory later this year.<\/p>\n \u201cLow housing turnover is one of the roots of the ongoing supply and affordability problems plaguing many markets,\u201d Yun says.<\/p>\n Renters Are Less Optimistic<\/strong><\/p>\n NAR\u2019s survey also found that fewer renters believe now is a good time to buy. Fifty-two percent of renters say it\u2019s a good time to buy, which is down from 62 percent a year ago. On the other hand, 80 percent of homeowners say now is a good time for homebuying.<\/p>\n \u201cIt should come as little surprise that the confidence reading among renters has fallen every month since January (64.8) and currently sits at its lowest level (53.8) since tracking began in March 2015 (65.7),\u201d Yun says. \u201cPaying more in rent each year and seeing home prices outpace their incomes is discouraging, and it\u2019s unfortunately pushing homeownership further away\u2014especially for those living in expensive metro areas on the East and West Coast.\u201d<\/p>\n Source: \u201cHousing Opportunities and Market Experiences Survey,\u201d National Association of REALTORS\u00ae (2017 Q2)<\/em><\/p>\n<\/div>\n [ad_2]![\"\"](\"https:\/\/i0.wp.com\/realtormag.realtor.org\/sites\/realtormag.realtor.org\/files\/rmo_files\/images\/2017_jun\/Q2%20HOME%20Survey%20Infographic.jpeg\")
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