Survey: Nearly Two-Thirds Believe Time is Right for Homebuying
January 9, 2020
A new survey conducted during the fourth quarter of 2019 by the National Association of Realtors (NAR) found 63 percent of respondents believing now is a good time to buy a home, unchanged from the level in a similar survey held one year ago. Thirty-three percent of respondents said they “Strongly Believe” now is a good time to buy, while 74 percent stated it is a good time to sell a home, identical to the percentage in last year’s third quarter.
Furthermore, 41 percent of respondents predicted that prices will remain the same in their communities during that period, while 48 percent said they believe prices will rise and 11 percent said they expect prices to fall in the next six months. As for the potential of a recession, 52 percent of those polled believe the U.S. economy is improving.
Lawrence Yun, NAR’s chief economist, observed, “With mortgage rates low, the timing is indeed ideal for those who want to enter into homeownership and for those looking to move on to their next home.”
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