30% of homeowners would sell at the first sign of a rebound in housing
Normally I would just add this article to Joe’s excellent post, but this point is so important that it deserves its own section.
“Three out of four U.S. homeowners think the worst is over in the housing market.
And half of the homeowners in Southern states – including Texas – say home prices will stabilize in their areas in the next six months, according to a new survey by Zillow.com.
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Almost a quarter of homeowners in the South said they think their properties will increase in value during the next six months.
“While homeowners are now more realistic when looking backward, they are still pretty starry-eyed when looking forward, with three out of four homeowners believing that their own homes’ prices will increase or be flat over the next six months,” Dr. Stan Humphries, Zillow’s vice president of data and analytics, said in the report. “Unfortunately, there are few markets we expect to perform this well.”
Thousands of potential sellers are waiting on the sidelines, Zillow said ….”
…more…