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One key finding of the latest results shows almost 50% of renters interviewed expect their rent to rise over the coming year. 42% expressed an interest in moving to lower living expenses, and 62% of those interviewed believed now was a great time to buy! However, many stated they would not buy a home due to challenges faced towards saving a down payment. Surveyors discovered only 15% would actually consider buying a home in the near future. Despite the lower number of respondents feeling ready to buy, overall confidence in the investment of buying a home is increasing, which bodes well for residential real estate markets in the coming months.
On the flipside, 80% of homeowners expressed they felt now was a great time to list their home. This is the highest result thus far from the NAR HOME surveys, and gives us a good glimpse into the mindset of homeowners. Home values are increasing throughout the country, instilling confidence in potential sellers who are ready to move for various reasons.
Overall, the HOME survey shows many people have an optimistic attitude towards home ownership. This is due in large part to our improving economy. This positive attitude can encourage renters to save for a down payment on a future home, and result in more homeowners ready to list their homes. You can read the full report on the HOME Survey in this National Association of Realtors® article.
As buyer and seller confidence grows, the residential real estate market will get stronger. When the time is right to buy a home or sell your property, you can rely on REALTY TEXAS LCA, Inc. We’re here to help you with all your real estate needs! Call me, Laura Austin, at (281) 789-2911 or (936) 321-2977, or email me at Laura@RealtyTx.net. You can also visit me at my website for available listings and additional information.
