Real estate information site Trulia conducted a survey of more than 2,000 homeowners nationwide which shows that while Americans are more enthusiastic about selling, they may not be ready to list their home.
Nearly one in three respondents to the survey believe that 2018 is a better year for selling a home than last year but just six percent have any plans to sell their home in the next 12 months. This sentiment is made clear by the low inventory that continues to hinder the housing market.
On the other end of the spectrum, one in four Americans think 2018 is a better year to buy a home than 2017, which is the same proportion (25 percent) who think it's worse. Nonetheless, only 10 percent of Americans said they plan to buy a home before the end of the year.
Today, conforming no-point 30-year fixed mortgage rates are averaging 4.5 percent, 15-year rates are near 4.0 percent and the 5-year ARM is averaging 4.25 percent.
Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.Biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.