But buyers may need some more convincing
A monthly barometer of consumer confidence in the US housing market hit an all-time high in April.
The Fannie Mae Home Purchase Sentiment Index hit 91.7 after rising 3.4 points, with five of its six components gaining.
However, the net share of buyers who think now is a good time to buy was down 3 percentage points compared to March.
"The latest HPSI reading edged up to a new survey high, showing that consumer attitudes remain resilient going into the spring/summer home buying season," said Doug Duncan, senior vice president and chief economist at Fannie Mae.
He said that high home prices and good economic conditions helped push the share who think it's a good time to sell to a fresh record high but while that measure has been trending higher for a year, it has not helped with tight inventory.
“The tightest supply in decades, combined with rising mortgage rates from historically low levels, will likely remain a hurdle for mobility and a persistent headwind for home sales," said Duncan.
