More than two-thirds of Americans believe now is a good time to purchase a house, while 75 percent believe now is a good time to sell a home.
According to NAR’s 2018 Q2 Homeownership Opportunities and Market Experience Survey, optimism is up among both sellers and buyers. More people feel strongly about now being a good time to buy than in the previous quarter, and more people overall feel it is a good time to sell. However, more people feel that home prices have gone up over the past year than in the first quarter. Sixty-eight percent of respondents reported that home prices rose in the past year in their areas, up 5 percent from the first quarter.
Home prices will continue to rise over the next six months, according to 55 percent, while 40 percent reported that home prices in their area will remain the same. Only 5 percent of residents think home prices will decrease by the end of the year. The outlook on the U.S. economy may be dampening spirits. Only 58 percent believe it is improving, down 2 percent from the last quarter.
One thing holding up some non-homeowners is the ability to obtain a mortgage. More than half reported it would be difficult or somewhat difficult to qualify for a mortgage with their finances.
Overall, people still believe homeownership strengthens a community a great deal, according to 67 percent. However, nearly three-quarters believe that homeownership will be more difficult for future generations.