Whether or not you feel like it’s a good time to buy or sell a house depends a lot on your perception of the housing market. That’s why Fannie Mae conducts a monthly survey. It’s goal is to gauge Americans’ feelings about current conditions, their financial situation, mortgage rates, home prices, etc. After all, if people have a positive view of the market, they’re more likely to make a move.
Housing Market
And, according to the most recent Home Purchase Sentiment Index, Americans are feeling optimistic right now. Fannie Mae’s chief economist, Doug Duncan, says the index remains near its all-time high. “The HPSI hit and remained near an all-time high in 2019, driven by the 16-percentage point year-over-year increase in the share of consumers believing it is a good time to buy,” Duncan said. In December, 59 percent of participants said they think now is a good time to buy a house.
Low Rates
Additionally, 65 percent said it’s a good time to sell. In other words, a majority of survey participants have a positive view of the market. So, with mortgage rates low, prices slowing, and home construction increasing – optimism may grow even stronger as we approach the spring season. For more details, click the Fannie Mae articles here.
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