WASHINGTON, DC — Significantly more than half of Americans polled believe that now is a good time to buy or sell a home – good news for a housing market vying for positive momentum in 2020.
According to the latest National Association of Realtors’ “Housing Opportunities & Market Experience” (HOME) survey, conducted among 2,700 U.S. households, 63% of those polled believe that now is a good time to buy a home, with 33% saying they “strongly believe” now is a good time to buy. At the same time, 74% of those surveyed said they believe that now is a good time to sell.
Lawrence Yun, chief economist for the Washington, DC-based NAR, said the positive sentiments can be linked to a strong job market and favorable economic conditions. “The mobility rate has been very low, as many people have opted to stay put for longer,” said Yun. “However, this latest boost – Americans saying now is a good time to move – is good news. With mortgage rates low, the timing is ideal for those who want to enter into homeownership and for those looking to move on to their next home.”
The NAR survey also found that 52% of those polled believe the U.S. economy is improving, with optimism highest among individuals who earn $100,000 or more annually, as well as for those who reside in rural areas.
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