When there are more home buyers than homes for sale, that’s a seller’s market. Homeowners can get top dollar for their homes, since buyers have fewer options to choose from. That’s the case in today’s market. And, according to Fannie Mae’s most recent Home Purchase Sentiment Index, Americans are noticing.
In fact, the survey component measuring whether respondents think it’s a good or bad time to sell a house saw a 13 percent increase in participants who said now is the right time to sell. Doug Duncan, Fannie Mae’s senior vice president and chief economist, says Americans are becoming more optimistic and it’s pushing home-selling sentiment higher.
“The significant increase in the HPSI in March reflects consumer optimism toward the housing market and larger economy as vaccinations continue to roll out, the third round of stimulus checks was distributed, and the spring homebuying season began – perhaps with even more intensity this year since 2020’s spring home buying season was limited by virus-related lockdowns,” Duncan said. “Home-selling sentiment experienced positive momentum across most consumer segments – nearly reaching pre-pandemic levels and generally indicative of a strong seller’s market.” (source)