Released in last month (December 2017), the National Association of REALTORS® Housing Opportunities and Market Experience (HOME) survey showed that at the end of 2017 a smaller share of homeowners believed that now is a good time to buy or sell a home, even with strong job creation and faster economic growth in the last months of 2017.
The National Association of REALTORS® Housing Opportunities and Market Experience (HOME) survey tracks topical real estate trends and renters and homeowners’ views and aspirations regarding homeownership.
Since rising to 62 percent in the third quarter of last year, optimism that now is a good time to is at 60 percent, from 57 percent a year ago.
The report also found that 76 percent of homeowners think now is a good time to list their home for sale, which is down from last quarter (80 percent) but up from a year ago (67 percent).
This data should help potential buyers and sellers better understand the market environment and know what to expect in 2018.
The takeaways from this survey should help buyers and sellers who are heading into the market, apply the lessons learned from the past year, and set expectations for the year ahead to achieve their home buying and selling goals.
Highlights of the survey:
In the fourth quarter of 2017, 72 percent of people believe that now is a good time to buy a home.
Forty-three percent believe that strongly, a decrease from 48 percent in Q3 2017 and 45 percent in Q4 2016.
Seventy-one percent of people believe that now is a good time to sell a home, down from 78 percent in Q3 2017 and an increase from 62 percent in Q4 2016.
Forty-three percent believe that strongly, down from 51 percent in Q3 2017.