American Confidence In Housing At An AllTime High

Dated: 08/13/2019

Views: 3

American Confidence in Housing at an All-Time High | MyKCM

https://www.mykcm.com/2019/08/12/american-confidence-in-housing-at-an-all-time-high/


Fannie Mae just released the July edition of their Home Purchase Sentiment Index (HPSI). The HPSI takes information regarding consumers’ confidence in the real estate market from Fannie Mae’s National Housing Survey and condenses it into a single number. Therefore, the HPSI reflects consumers’ current views and forward-looking expectations of housing market conditions.

Great News! The index reached its highest level since Fannie Mae began their survey. Breaking it down, the report revealed:

  • The share of Americans who say it is a good time to buy a home increased from the same time last year.

  • The share of those who say it is a good time to sell a home increased from the same time last year.

  • The share of Americans who say they are not concerned about losing their job over the next 12 months increased dramatically (16 percentage points) from the same time last year.

  • The share of Americans who say mortgage rates will go down over the next 12 months increased dramatically (24 percentage points) from the same time last year.

The day after the index was released, Freddie Mac also announced the 30-year fixed-rate mortgage rate fell to its lowest level in three years.

Doug Duncan, Senior Vice President and Chief Economist at Fannie Mae explained the uptick in the index:

“Consumer job confidence and favorable mortgage rate expectations lifted the HPSI to a new survey high in July, despite ongoing housing supply and affordability challenges. Consumers appear to have shaken off a winter slump in sentiment amid strong income gains. Therefore, sentiment is positioned to take advantage of any supply that comes to market, particularly in the affordable category.”

Bottom Line

Consumers are feeling good about the real estate market. Since Americans are not worried about their jobs, see mortgage rates near an all-time low, and believe it is a good time to buy, the housing market will remain strong for the rest of the year.


Tricia Glover, Realtor

The Glover Team, Inc.

540-846-0185

http://tglover.liveinfredericksburgva.com

Blog author image

Tricia Glover

As an agent who's an expert in this local area, I bring wealth of knowledge and expertise about buying and selling real estate in the Northern Virginia Area. It's not the same everywhere, so you need....

Want to Advertise on this Site?

Latest Blog Posts

Know The Lingo

#TuesdayTipSome Highlights: Buying a home can be intimidating if you’re not familiar with the terms used throughout the process. To point you in the right direction, here’s a list of some of

Read More

Time For Mondays Motivation

#MondayMotivationTricia Glover, RealtorThe Glover Team, Inc.540-846-0185http://tglover.liveinfredericksburgva

Read More

All Star Breakfast Rice

Now that the kids are back in school try this quick and easy breakfast recipe!Recipe from food.comINGREDIENTS 1⁄4 teaspoon ground cinnamon 1 tablespoon brown sugar 2⁄3

Read More

Nearly Of Homeowners Purchase Property With Less Than 5 Down

A lot of potential home buyers think that in order to successfully buy property they need to save up a sizeable down payment of 20% of the purchase price—and that until they have that down payment

Read More