Both current homeowners and renters agree that home values are going to continue to appreciate. However, the effect of home value appreciation on the confidence of current homeowners in the housing market is quite different when compared with the confidence of renters.

Home values are near or past their pre-crisis peak in about a quarter of U.S. metros, which indicates recovery for these markets—but at the same time, a gap has been forming between renter and homeowner sentiment toward the housing market.

According to Zillow’s latest Housing Confidence Index, released on Thursday, existing homeowners are becoming increasingly confident that now is a good time to sell—in fact, they are generally more positive toward selling than buying. The share of…

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