Each month, Fannie Mae’s Home Purchase Sentiment Index measures Americans’ feelings about the housing market. It also considers the overall the economy, and their personal finances. Survey participants weigh in on their expectations for mortgage rates. They also consider home prices, their job security, income, and whether or not they think it’s a good or bad time to buy or sell a home. In January, sentiment rose for the third consecutive month, moving the index closer to an all-time survey high.
Feeling Good About Housing Market
Put simply, Americans are feeling optimistic the housing market and a lot of it is due to an expectation that mortgage rates will stay low for the foreseeable future. Doug Duncan, Fannie Mae’s senior vice president and chief economist, says the outlook is good. “Low rates continue to be a key driver of consumer optimism about both current home buying and home-selling conditions,” Duncan said.
Good Time to Buy or Sell
“Favorable views on job security and personal financial expectations reflect the strength of the labor market. We believe it will continue to bolster the housing market demand.” Survey results show 59 percent of respondents say it’s a good time to buy a home and 66 percent say it’s a good time to sell. See the detailed article from Fannie Mae here. (source)
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