Good news if you are thinking of selling your Boston home this fall! Recently released data from Fannie Mae’s National Housing Survey shows that
the Home Purchase Sentiment Index (HPSI) has increased 2.2 points in July to
93.7, a new survey high! Five of the six HPSI components increased month over
month with an 8-percentage point increase in the net “Confidence About Not Losing
Job” component, which drove the index higher.
As home prices have increased
and buyer confidence goes up, more and more Boston homeowners have realized that now is a
good time to sell their homes in order to take advantage of the extra equity
they now have.
Doug Duncan, Vice President
& Chief Economist at Fannie Mae, had this to say about the recent survey:
“Consumer job confidence and favorable mortgage rate
expectations lifted the HPSI to a new survey high in July, despite ongoing
housing supply and affordability challenges. Consumers appear to have shaken
off a winter slump in sentiment amid strong income gains. Therefore, sentiment
is positioned to take advantage of any supply that comes to market,
particularly in the affordable category. However, recent financial market
events following when the survey data were collected could weigh on consumer
views looking ahead.”
Boston home buyer demand
continues to outpace the supply of homes for sale, which has driven prices up
across the country as well. All of this boils down to if you are considering listing your Boston home for sale this year, now
is the time! Selling a home is an exciting and
complex adventure. Contact a Boston, MA real estate agent
to get the selling process underway!
Lucas Garofalo
Keller Williams Realty
(617) 861-3631
Lucas@LucasBostonHomes.com
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