For many years following the housing crash, home buying conditions were excellent. Home prices had plummeted and mortgage rates were at historic lows. It was a home buyer’s market and a good deal for anyone who could take advantage. However, since prices had fallen so far, many homeowners who wanted to make a move would have to sell their house for less than they paid for it.
But these days, those same homeowners have seen their home’s value rebound and maybe even exceed what it was before the crash. That means, though buying conditions aren’t what they were then, conditions have improved significantly for homeowners who are looking to sell.
According to Fannie Mae’s monthly Home Purchase Sentiment Index – which measures Americans’ feelings about the housing market, economy, and their personal financial situation – survey respondents have noticed. The most recent results show an increase in the number of respondents who said it was a good time to sell. The flip side, of course, is that a decreasing number said it was a good time to buy.