If you’re a homeowner thinking about selling your house,
you’re probably looking for the best time to make your move. That means you’re
likely balancing a number of factors, like your changing needs, where you’ll go
when you sell, and today’s mortgage rates in order to time it just right.
According to recent data, that sweet spot could already be
here. The latest Home Purchase Sentiment Index (HPSI) by Fannie Mae finds that
76% of consumers believe now is a good time to sell.
The graph below shows the percentage of survey respondents
who say it’s a good time to sell a house. The big dip in March and April of
2020 reflects how consumer sentiment dropped at the beginning of the pandemic
as uncertainty about the health crisis grew. Since then, the percentage has
grown consistently as more people feel confident it’s a good time to sell.
In fact, survey respondents think it’s an even better time
to sell a house today than they did in 2019, which was a strong year for the
housing market. The latest survey results indicate one of the strongest peaks
in seller sentiment in nearly three years (see graph below):
What Makes Today a Good Time To Sell?
One reason so many people think it’s a good time to sell is
because there are still more buyers in today’s market than there are homes for
sale. That’s driving home prices up, making it a good time to sell your house.
And if you’re on the fence about whether or not to sell
because you don’t know where you’ll go once you do, know that you might have
more options today than in previous months. That’s because the number of homes
coming onto the market has grown each month since the start of the year. When
more homes come onto the market, it gives you more opportunities to find one
that meets your changing needs.
While the number of homes available for sale is growing and
giving you more options for your move, inventory is still low overall. That
could mean it’s a great time for you to sell. If you’re ready to address your
changing needs and take advantage of today’s favorable conditions, let’s
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