For the most part, people sell their home because they want to buy a different one. Which means, if you're a home seller, you're also likely a home buyer. It also means there are likely more than a few potential home sellers who are ready to move but have been waiting for affordability conditions to improve before becoming a buyer again. After all, an affordable monthly payment isn't an easy thing to give up. So now that rates have fallen over the past few months, are more homeowners ready to sell?
According to one new survey, the answer is yes. In fact, the survey found the share of homeowners who say they're considering selling within the next three years climbed 6 percent from last year. That's a significant increase. The survey also found homeowners with a mortgage rate below 5 percent were just as likely as those with higher rates to say they're thinking about selling. Whether or not these homeowners actually sell remains to be seen but, if they do, it could lead to an inventory bump and a better balanced market.
[Source: PR Newswire]
