As the week came to a close last Friday, the duly-respected public pollsters at Rasmussen Reports issued their most recent homeowner sentiment sampling—one that confirmed what many Palm Beach Gardens homeowners had surmised from the snippets of information that’s been echoed around the country: the belief that home values are more than just holding in many areas— supplanting fears of a stall (or reversal). On Sunday, Rasmussen refined their commentary to a straightforward, “Housing Market Confidence Improves.”
Last Week’s Poll Encourages Palm Beach Gardens Homeowners
The data first arrived in the polling firm’s daily email update, which top-lined a survey of over a thousand U.S. adults. The query compared U.S. homeowners’ “confidence in the resale value of their homes” with their answers to the same question last October. It reflected a rise of 5%. Forty-five percent of those surveyed now think “the value of their home” is likely to rise by next year. Significantly, whereas the October survey showed 22% were worried that the value of their homes would go down, only 16% now believe that. About a third (35%) think it will remain unchanged.
For Palm Beach Gardens homeowners, the shift in national expectations can only help encourage Palm Beach Gardens homeowners. For them, it is a question of whether or not the mindset of many buyers is that it is likely that buying now will be rewarded by continuing strength in the underlying market. If not, fewer buyers would be expected to act, since, when people are convinced that home values are retreating, it discourages them to buy at then-current asking prices. That’s not necessarily true for experienced homeowners who have a longer view—but even so, sellers’ market conditions are more likely when a strong majority believe that current values will either hold or rise. Friday’s news indicates that such sentiment is advancing.
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If you are considering joining this spring’s Palm Beach Gardens home sellers, I hope you’ll think of me to become your property’s strongest advocate! Give us a call at (561) 316-6800 to schedule a consultation.
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