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Monday, January 9, 2017

The consumer view of whether now is the right time to buy

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        When it comes to the right time to buy a home, I trust the consumer’s point of view every bit as much as the so-called housing experts. After all, the consumer has skin in the game.
        That is why a fourth-quarter 2016 survey by the National Association of Realtors may be especially worthy of consideration by those contemplating the purchase of a home this year.
        According to the NAR survey, 78% of those they questioned said “now is a good time to buy a home.” That included 57% of all people currently renting. Sixty-two percent of those surveyed said now is a good time to sell a house, including 67% of people who currently own a home. A relatively low number of homes currently on the market, combined with a bit of pent-up demand, is causing price increases in popular markets. Indeed, 55% of those surveyed said they had seen prices rise in their communities over the last year. And, finally, 44% of those who were asked said they thought home prices would increase over the next six months; 47% said that prices would stay the same.
        In short, the public thinks the current environment is both a good time to buy and sell a home. You can almost hear the sound of real estate agents across the nation rubbing their hands together in glee.

Read 1816 times Last modified on Monday, 09 January 2017 20:18
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Larry Gavrich

This blog was conceived and is published by me, Larry Gavrich, a former corporate communications executive who founded HomeOnTheCourse, LLC, in 2005.  Our firm advises baby boomers and others seeking a lifestyle in which golf is a major component.  My wife Connie and I own a home in Connecticut (not on a golf course) and a condo at Pawleys Plantation in Pawleys Island, SC, on a Jack Nicklaus layout.  We began our search for our home on the course more than 15 years ago, and the challenges of the search inspired me to research golf communities and write objective reviews of them.



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