Home Seller Confidence Improving

The share of Americans who believe now is a good time to sell a home has risen, says a survey from mortgage giant Fannie Mae on Monday.

Of those surveyed in May, 40 percent felt confident about their ability to sell, up from 30 percent in April and up 16 percent from the same time a year ago. The uptick, the largest one in the survey’s three-year history, is likely linked to news of home-price increases.

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“Sentiment toward selling a home appears to be catching up with the strengthening housing market,” said Fannie Mae chief economist Doug Duncan, in a statement.

Potential buyers are feeling more confident, the survey says. Seventy-six percent of those surveyed said it’s a good time to buy a home. That’s the highest percentage in the survey’s history.

Realtor Mike Wolf, of Ascent Real Estate in San Diego, says the trends from the report are also reflected locally.

“I think it’s a good time to do something, whether it’s buying or selling,” Wolf said.

Because of recent home-price gains, some property owners who believe they’re still trapped by negative equity could be in a position now to sell. However, fear and lack of knowledge may be keeping some potential sellers from jumping into the hot real estate market, Wolf said. He says there’s a lot of waiting-and-seeing.

Wolf’s observations are supported by the number of homes on the market. There are about 4,800 listings right now, a nearly 7 percent increase from last month but a 22 percent drop from a year ago, according to numbers from the Greater San Diego Association of Realtors. The month-to-month uptick can be attributed to seasonality — people tend to move during the summer. Despite that uptick, Wolf says the county is still undersupplied.

Read more at: http://www.utsandiego.com/news/2013/jun/11/tp-home-seller-confidence-improving/

Disclaimer: for information and entertainment purposes only

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