Industry NewsMarkets & Economy

NAR: Sellers aren’t selling, renter confidence continues to dip due to financial fears

The homeseller Catch-22 is impacting the entire real estate industry
  • The majority of homeowners feel it's a good time to sell, but they're holding off.
  • Renter confidence is continuing to wane, with only 52 percent of renters believing it's a good time to buy.
  • Renters are staying put due to worries about personal finances, perceptions about qualifying for a mortgage and scarcity of affordable homes.

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According to the National Association of Realtors Housing Opportunities and Market Experience Survey (NAR HOME), the solution to low inventory woes may not come from robust housing starts or flipping single-family rentals into owner-occupied homes again. It may come from the 71 percent of homeowners who feel it's a "good time to sell" their home -- opening up a wealth of new listings. “Perhaps this notable uptick in seller confidence will translate to more added inventory later this year," said NAR Chief Economist Lawrence Yun in a press release. "Low housing turnover is one of the roots of the ongoing supply and affordability problems plaguing many markets.” But, as most things in the housing market, it's not that simple. First, the 71 percent of homeowners who feel its a good time to sell aren't acting on their confidence. “There are just not enough homeowners deciding to sell because they’re either content where they are, holding off until they build more eq...