WASHINGTON (7/14/15)--The share of those who believe now is a good time to sell a home climbed to an all-time high in June, according to Fannie Mae’s June 2015 National Housing Survey.
The gauge gained three percentage points to 52, surpassing the 50-point mark for the first time in the survey’s history.
Further, the share of those who said they believe rent prices will increase over the next 12 months jumped four percentage points to 59, also notching an all-time high.
The confluence of these two trends may point to brighter days for the home-purchase market.
“Our June survey results show the positive impact on housing of job and income growth,” said Doug Duncan, Fannie Mae senior vice president/chief economist. “The expectation of higher rent is a natural outgrowth of increasing household formation by newly employed individuals putting upward pressure on rental rates.”
A rise in the “good-time-to-sell” measure suggests a thinner inventory, which drives up home prices and gives sellers a leg up in the market, Duncan added.
“Together, these results point to a healthier home-purchase market, with more renters likely to find owning to be more cost-effective than renting, and more sellers likely to put their homes on the market,” he said.