The latest National Association of REALTORS® Housing Opportunities and Market Experience (HOME) Survey finds that while three-quarters of those surveyed believe now is a good time to buy a home, renters are less confident than homeowners, in part because low inventory and higher prices have increased competition for the homes that are on the market. Many may also be carrying student loan debt. Read the full news release from NAR.
“Most homeowners appear to realize that if they’re ready to sell, they’ll likely find a buyer rather quickly and be able to use the sizeable equity they’ve accumulated in recent years towards their next home purchase. Meanwhile, renters interested in buying continue to face minimal choices, strong competition and home prices growing faster than their incomes,” said NAR Chief Economist Lawrence Yun.
In other headlines:
Peoria area home sales rise again in the second quarter – Journal Star