The housing market was good for home sellers before the pandemic and became even better after it. The number of homes available for sale was low almost everywhere, and that meant multiple offers and competing home buyers. Homes sold quickly and for more than their asking price. But what about now? Well, according to the latest results of Fannie Mae’s Home Purchase Sentiment Index – which surveys Americans and asks for their opinions on buying/selling a home, mortgage rates, home prices, their job, and financial situation – the time is still right to sell. In fact, 64 percent of respondents said now is a good time for homeowners to list their homes. Doug Duncan, Fannie Mae’s senior vice president and chief economist, says homeowners may be ready to make a move. “Homeowners’ perception of home-selling conditions declined only slightly and remains largely positive after a steady increase over the last few months,” Duncan said. “This suggests to us that, despite the so-called ‘lock-in effect,’ some homeowners may increasingly want or need to sell their homes for a myriad of non-financial reasons, which may lead to an increase in listings in the near future.” (source)
