June 24th, 2019
The market seems to be looking up as we move through Q2, with many homebuyers and sellers having a positive outlook on housing. According to the NAR’s most recent Housing Opportunities and Market Experience (HOME) survey, 46% of respondents stated they strongly believe that it’s a good time to sell, which is a 9% increase from last quarter. Experts think this increase came in part from slowing increases in home prices. Lawrence Yun, the chief economist for the NAR, recently said, “With home price appreciation slowing, home sellers understand that the days of large price gains from holding an extra year are over.”
More from the survey: 38% of homebuyers responded that now is a good time to buy a home, and 27% think it’s a moderately good time to purchase.
As the summer moves along, it’s an ideal time to create urgency among the home buyers and sellers you know. Sellers who are holding out to sell are most likely not going to see the significant value increases we’ve seen over the past few years, and buyers are going to want to make a move before values continue to increase. Today, make it a point to do some outbound calling and create that urgency among your clients.