37.5 million Americans will move this year. Slightly more than half will buy instead of rent.
American Express Spending & Saving Tracker reports that sixteen percent of Americans will find a new place to hang their hats this year. That’s six percent more than in the previous two years, when the number hovered around 10 percent.
Buying will be more popular than renting, they report, with about 17 million people planning to purchase a home or condo, compared to about 16 million who will rent.
It’s all about consumer confidence.
Confidence is currency in the home sales market. Even though these homebuyers know they might have to pay more to get exactly what they want, the level of buyer optimism is looking to reach a four-year high, according to the same researchers.
There is confidence on the
seller side as well. In 2012, about 40 percent of
home sellers were confident they would get their asking price. In 2014 the estimate is 65 percent. 71 percent of
home sellers said they’re willing to sweeten up their deal in 2014, as opposed to about 60 percent in 2010.
