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In another survey by Fannie Mae they released their Home Purchase Sentiment Index for July. 66% of respondents said now is a bad time to buy a home due to high home prices. Only 28% said it’s a good time to buy a home. But 75% of respondents said now is a good time to sell a home. The Denver Post wrote a story on this topic on the 12 th that your clients may have read.
Unfortunately, we as human beings love to follow the crowd like sheep over a cliff. But, following the crowd causes people to buy high and sell low when it comes to stocks and as we have seen in our RE market the last several springs that trying to buy a home in the first 6 months of the year is very difficult. I prefer to buy real estate when everyone else says they are not. What about you?