Home buyer optimism regarding the future of home sales is up and continues to grow, according to the California Association of REALTORS. Current market trends indicate that a steady boost of available purchase inventory is moving the market from a sellers market in the direction toward balanced market.

Here are a few underlying reasons for this optimism:

• Even though mortgage rates are increasing since they bottomed out last winter, rates are still historically low and are expected to remain fairly stable this fall.
• Home price growth has slowed over the past few months, foreclosures continue to drop to pre-housing-bust levels, and the low inventory supply is slowly starting to increase.
• Housing markets continue to improve.
• Home ownership also has several tax benefits – such as the Mortgage Interest Deduction.
• Distressed sellers who lost their home over the past several years due to income reduction or job loss, can now apply sooner for a mortgage. A second chance, albeit a cautious decision, is a step in the direction of optimism.

Check out the graphic below to see the increase in buyer optimism:

If you are considering a home purchase, or if you would like us to help sell your home, our Welcome To San Diego real estate team is here to help. Give us a call: 619-356-3099.