Americans’ Home Buying and Selling Optimism High

Americans’ Home Buying and Selling Optimism High

May showed a sharp increase in positive consumer sentiment related to buying and selling homes. The share of respondents to a survey who said that now is a good time to sell a home rose to 40% compared to 30% in April and 16% one year ago. At the same time, the share of consumers who indicated they believe it’s a good time to buy a home rose by 5 percentage points to a high of 76%.

Mortgage Rates Higher but Stuck in Range

While mortgage rates rose again this week, it was more in the amount of fees paid than in the quoted percentage to the borrower. Rates are still locked in a new slightly higher range than in the previous few weeks.

Which Real Estate Markets are Rising from the Dead?

Real estate markets around the country are improving in inventory, volume and prices. However, RISMedia, a real estate information company, tells us that the following cities are literally Zombie markets, rising from the dead:

• Tallahassee, FL
• Salinas, CA
• Sioux City, IA
• Chicago, IL
• Topeka, KS
• Baton Rouge, LA
• Laredo, TX
• Philadelphia, PA

Let’s hope there’s a lot more of this to come in the near future.