According to a report from the National Association of Realtors, 71 percent of homeowners in California and the rest of the country believe that now is a good time to sell a home. This degree of confidence is higher than what was reported among homeowners in the last quarter and a year ago.
While there is a growing optimism among homeowners, fewer renters share their enthusiasm. Only 52 percent of renters believe that now is a good time to purchase a home. This is down from 56 percent in the last quarter and 62 percent one year ago.
On the other hand, 80 percent of homeowners believe that the state of the housing market and economy make it an ideal time to purchase a home. This percentage has remained the same from the prior quarter and the quarter from one year ago.
The number of survey respondents who believe that the economy is getting better fell from 62 percent in the last quarter to 54 percent. Just 42 percent of the respondents from urban areas reported a belief that the economy is improving. However, 58 percent had confidence in the economy just one year ago.
According to a representative of the NAR, there is a disparity between the number of properties available for sale and the optimism in homeowners about selling their homes. The shortage of homeowners willing to sell has resulted from a variety of factors. These include being satisfied with where they are located, wanting to wait until they have more home equity or being cautious because they realize it may be difficult to locate an affordable residence. A real estate law attorney may assist clients seeking to purchase or sell a home. The lawyer may review or draft real estate agreements, resolve zoning issues or negotiate contract terms. An attorney may also oversee closings.