According to New Survey Homebuyers, Now’s a Good Time to Buy
Published on April 17, 2019 by Marie McCarthy
Good Time to Buy a Home
It’s a good time to buy a home, according to research from the National Association of Realtors. 65 percent of people echoed this sentiment in the Housing Opportunities and Market Experience, or HOME, report. This enthusiasm is the highest it’s been since the second quarter of 2018.
Older boomers and those from the silent generation are the most optimistic, 75 percent said now is a good time. Just 51 percent of Millenials agreed. Home owners are more likely than renters to say that now is a good time to buy.
Good Time to Sell a Home
Even more people say it’s a good time to sell – 69 percent according to the HOME report. Earners who make $100,000 or more, people living in the West and Young Boomers were most likely to respond this way.
Feelings about the Economy
Sentiments about the American economy are mixed. Half of Gen-Xer’s say the economy is improving. And 53 percent of all groups say the economy is getting better. Rural Americans are more likely to say the economy is improving compared to Americans in urban areas.
Home Sales: The National Association of Realtors reported that February 2019’s existing-home sales gained their largest month-over-month gain since December 2015. Sales increased 11.8 percent from January.
Mortgage Rates: Mortgage rates have fallen or remained steady across the board, as of data from March 21, 2019. 30-year fixed rates fell 0.4 points 15-year fixed rates dropped 0.5 points, and 4-year hybrid adjustable-rate mortgages were unchanged.