According to housing giant Fannie Mae, nearly twice as many people think now is a good time to sell compared to a year ago.
In their National Survey they report 26 percent of respondents said now is a good time to sell, up from 25 percent last month and 14 percent from last year. The respondents also believed home prices will continue to increase.
“Despite an uptick in concern expressed about the direction of the economy, it appears consumers believe that the housing recovery will march on,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “Housing sentiment remains unshaken from the highs of the last few months. At the same time, perhaps driven by the experience of the past several years, consumers remain cautious in their housing outlook.”
Our local Sacramento market clearly needs more than 14 percent of homeowners to think now is a good time to sell. Our inventory of for Sacramento, Placer and El Dorado counties of listing continues to be anemic compared to demand. Although there was an uptick in the number of listings on the market from February to March the months of inventory fell from 1.3 to 1.2.
Most listings, in the under $400,000 price range, are selling within days and the ones which show well have multiple over asking price offers. This is making it very difficult for buyers who have to be ready and find ways to make their offers stand out from the crowd.
If you have any questions about buying or selling a home in the current market, feel free to reach out to me at the MagnumOne Realty Office in Roseville at (916) 899-6571 by email to [email protected]. I would be happy to answer your questions.
We specialize serving the needs of buyers and sellers of homes in the Sacramento area including Sacramento, Placer, El Dorado, Sutter and Yuba counties.