Survey: Americans Never Felt Better About Buying a House
WASHINGTON – Fannie Mae’s latest Home Purchase Sentiment Index (HPSI) shows that sentiment climbed 2.2 points in July to 93, which is a 7.2-point gain from last year and a new survey high.
Doug Duncan, Fannie Mae’s senior vice president and chief economist, attributed the increase in the HPSI amid ongoing housing supply and affordability challenges to strong job confidence and favorable mortgage rate expectations.
“Consumers appear to have shaken off a winter slump in sentiment amid strong income gains,” he says. “Therefore, sentiment is positioned to take advantage of any supply that comes to market, particularly in the affordable category.”
The index shows a 3 percentage point increase in the “Good Time to Buy” component and a 1 percentage point jump in the “Good Time to Sell” component.
The report also indicates that more consumers said they now expect mortgage interest rates to fall within the next 12 months, with that component rising 1 percentage point in July.
Source: HousingWire (08/07/19) Lloyd, Alcynna
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