The number of homes for sale is lower than normal in many markets. So, any indication that relief may be on the way is good news for potential home buyers. That’s why the results of a recent survey conducted by the National Association of Realtors are encouraging. The survey found a significant increase in the number of respondents who said they believe now is a good time to sell a home. In fact, 46 percent of participants said they thought so – up from 37 percent in the first quarter. What’s driving the boost in optimism? Well, according to Lawrence Yun, NAR’s chief economist, home price increases have slowed and it might be motivating homeowners. “With home price appreciation slowing, home sellers understand that the days of large price gains from holding an extra year are over,” Yun said. In other words, homeowners who may’ve been waiting to see how much higher home prices would climb may now be ready to sell. If more Americans put their homes up for sale, it will help to relieve inventory shortages and lead to a better balanced housing market. More here.
