Once the pandemic is over, the home-selling market will see massive activity, according to a new survey released by the National Association of Realtors.
The trade group found that 77% of potential sellers are preparing to list their residences the moment stay-at-home orders are lifted.
“After a pause, home sellers are gearing up to list their properties with the reopening of the economy,” said NAR Chief Economist Lawrence Yun. NAR noted 73% of homeowners aren’t reducing listing prices despite a purchase slowdown caused by distancing measures and state lockdowns.
Meanwhile, according to a new study from Fannie Mae, consumer confidence in housing isn’t exactly brimming. Fannie’s Home Purchase Sentiment Index has reached new lows, decreasing in April to a reading of 63.0, the lowest measurement since November 2011.
The data show a 10 percent increase in Americans who think it’s a bad idea to purchase a home, jumping from 36% to 46%. Following the same pattern, Americans who say it’s a good time to buy a house decreased to 48% from 56%.
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