Each month, Fannie Mae conducts a Home Purchase Sentiment Index survey. The survey attempts to gauge Americans’ feelings about the housing market and their personal financial situation. The survey asks participants for their opinion on mortgage rates, home prices, their income, job security, and whether they think now is a good or bad time to buy or sell a home. In January, the index rose 3.7 points from the month before. Much of the improvement due to a 16 percent jump in the number of respondents who said now is a good time to sell a house.
Good Time To Sell Houses
Doug Duncan, Fannie Mae’s chief economist, says there are several factors responsible for the increase. “Overall, the index’s monthly increase was driven largely by a substantial jump in the share of consumers reporting that it’s a good time to sell a home, with many citing favorable mortgage rates, high home prices, and low housing inventory as their primary rationale,” Duncan said. However, while the good-time-to-sell component saw a significant increase, the index remained mostly unchanged in other areas. Areas such as job concerns, mortgage rate expectations, and whether now is a good time to buy remained unchanged. Follow the link for more information.
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