The National Association of Realtors’ Housing Opportunities and Market Experience survey asks consumers about buying and selling a home, their financial situation, and their perceptions of the economy. According to the fourth quarter results, Americans are generally optimistic about the housing market, with majorities expressing that they feel now is both a good time to be selling a home and a good time to buy a home.
However, some groups are more optimistic than others. For example, among current homeowners, 79 percent say they feel it is a good time to buy a home. On the other hand, just 60 percent of current renters feel as optimistic. Other groups that were more optimistic included those with household incomes above $100,000 and those living in the Midwest and South.
So what do the results mean?
Well, one takeaway is that an increasing number of current homeowners who want to move could mean a potential boost in the number of homes available for sale next year. That’s good news for all prospective home buyers, as an increase in for-sale inventory will help improve affordability conditions.