{"id":19131,"date":"2021-07-12T13:07:32","date_gmt":"2021-07-12T13:07:32","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=19131"},"modified":"2021-07-12T13:07:32","modified_gmt":"2021-07-12T13:07:32","slug":"seller-optimism-has-never-been-so-high","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/seller-optimism-has-never-been-so-high\/","title":{"rendered":"Seller Optimism Has Never Been So High"},"content":{"rendered":"

Seller Optimism Has Never Been So High<\/h1>\n
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Seventy-seven percent of consumers say it\u2019s a good time to sell a home\u2014a record high, according to Fannie Mae\u2019s Home Purchase Sentiment Index, a survey of 1,000 adults on their views of the housing market.<\/p>\n

They have plenty of reason to feel so upbeat: Existing-home sales prices were at a record high in May and up nearly 24% compared to a year earlier ($350,300), according to the National Association of REALTORS\u00ae.<\/a>\u00a0The higher home prices have translated into greater equity for home sellers. In the first quarter of 2021, the average homeowner saw their equity climb nearly 20% in the past year<\/a>, gaining about $33,400, according to a report from CoreLogic.<\/p>\n

Meanwhile, home buyers aren\u2019t feeling as good about the housing market. Sixty-four percent of consumers say it\u2019s a bad time to buy a home, up from 56% the previous month\u2014also a record high, Fannie Mae reports.<\/p>\n

The \u201cbuy and sell components continued to diverge,\u201d Doug Duncan, Fannie Mae\u2019s senior vice president and chief economist, said about the latest consumer sentiment index readings. \u201cConsumers also continued to cite high home prices as the predominant reason for their ongoing and significant divergence in sentiment toward homebuying and homeselling conditions.\u201d<\/p>\n

Renters who are planning to purchase a home in the next few years have demonstrated the steepest decline in homebuying sentiment than homeowners, Duncan adds. \u201cIt\u2019s likely that affordability concerns are more greatly affecting those who aspire to be first-time homeowners than other consumer sentiments who have already established homeownership,\u201d Duncan says.<\/p>\n

Despite the pessimism over homebuying, \u201cwe expect demand for housing to persist at an elevated level through the rest of the year,\u201d Duncan notes. \u201cMortgage rates remain not too far from their historical lows, and consumers are expressing even greater confidence about their household income and job situation compared to this time last year, when the pandemic had shut down wide swaths of the economy.\u201d<\/p>\n

Here are more highlights from Fannie Mae\u2019s Home Purchase Sentiment Index:<\/p>\n