Most individuals who rent their current home are eager to become homeowners. However, with the rise of home prices and low supply of homes for sale, few people believe they can become a homeowner. On the other hand, homeowners are confident about the current state of the housing market, and believe now is the best time to sell a home. Renters are less confident because they express their concerns about the ability to afford a home in the future. Overall, most individuals in the United States are confident with the housing market.
Homeowners are having a more positive attitude with the housing market, making them want to sell their homes. Conversely, renters do not have a positive attitude, causing an imbalance to occur causing a slowdown in the market. Different areas of the country are experiencing diverse situations that involve individuals’ confidence with the housing market.
“The overall status of the housing market is great, but if you research more into it, you will find different opinions on the housing market from renters and homeowners,” said Larry Vecchio. “The majorities of homeowners are confident about selling their house, but want to hold off as they expect home values to continue to increase. Also, they don’t want to be a part of the competitive market when it is their turn to buy a house. Renters are not as confident because they are upset over the shrinking number of houses for sale and the high prices. Housing will continue to get expensive; these trends will not stay in place.”
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