CHARLOTTE, N.C.—Current and potential homeowners have a generally optimistic outlook on the U.S. economy and housing market, according to a Lending Tree survey conducted online by Research Data Technology, Inc. from December 20-28, 2013. Because of the optimistic outlook and improving home values, 71 percent of current homeowners said they are considering selling their home in the next 12 months, making 2014 a potentially active year in the housing market.
While most homeowners anticipate a moderate uptick in mortgage rates (60 percent), current and potential homeowners don’t expect to shy away from the housing market. Potential home sales are driven largely by younger homeowners, with 90 percent of homeowners under 30 considering selling their home in 2014 and 78 percent of homeowners aged 30-39 contemplating selling their home in the next year.
“As home values continue to improve across the country, sellers who have been sidelined due to low property values will start to take action in the market,” says Doug Lebda, founder and CEO of LendingTree. “Although it’s unlikely that 70 percent of current homeowners will sell their home this year, it’s a positive sign for the housing market that more homeowners are considering the possibility of moving. In the next 12 months, new construction and the overall U.S. jobs market will be key factors for continuing a housing market recovery.”
More on the survey results collected by Research Data Technology, Inc. or Lending Tree can be found here.