Many American homeowners are eagerly waiting for home values to rise so they can sell their properties, a new report says.
Five percent of the nation’s homeowners said they would be likely to put their houses on the market in the next six months if they saw signs the real estate market was turning around, according to a quarterly survey released today by Zillow.
Other findings from Zillow:
Two in five homeowners believe the real estate market has already hit its lowest level and will not decline further.
Looking further into the future, the majority of homeowners believe their own homes’ values will either increase (27 percent) or stay the same (35 percent) in the next 12 months. Of those who expect their home’s value to increase, the median expectation is a rise of 6 percent, although that varies by geography.
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Updated: 1st Q 2018