Meat & Potatoes Real Estate News

Time for some hard real estate news, folks! Let's take a look at how today's consumers feel regarding the housing market.

Fannie Mae recently completed their National Housing Survey - and compiled the input from roughly 1000 respondents. From this survey we gained insights into consumer confidence and optimism - and we have GREAT news!! Check out the following results:

• 23% of respondents said now is a good time to sell - up 12% from last year!
• 41% of respondents are expecting home prices to rise.
• 50% of those queried expect to see housing rental rates increase.
• 65% of respondents who rent say they would buy if they were to move.

Let's summarize: Consumer confidence is growing! This is fantastic news because homes are worth what the market believes them to be worth. Buyers and sellers set prices. If consumers are expecting home prices to rise, they will. Equally important, rental rates are on the uptick and two-thirds of current renters say they will buy if they move. Why? Because consumers believe home prices are increasing and they don't want to miss out on a great deal!!

On the flip side - for the same reason - more consumers feel now is a good time to sell. We will be seeing an increase in listings for the same reasons we will be seeing an increase in buyers.

More buyers and sellers are entering the market - confidence is up! Interest rates are still incredible. And remember this: many, many buyers have been on the sidelines going back several years because confidence has been low for an extended period of time. This is going to create a bulge in the line as increased buyer demand will need to be satisfied with an increase in inventory.

A healthy housing market is foundational to the greater economic health of our nation so, LET'S GET MOVING!!