Americans are more optimistic about buying homes – so much
so that the Fannie Mae Home Purchase Sentiment Index (HPSI), created in 2011,
hit an all-time high in February, 2017.
Fannie Mae’s HPS Index was 88.3, a 5.6 percentage point
increase in February. The Index was also up 5.6 percentage points compared with
February last year.
Some of the highlights of the report:
- · The percentage of Americans who say it is a good time to buy a house rose 11 percentage points to 40%, rebounding strongly from last month’s survey low.
- · The percentage of those who say it is a good time to sell increased by 7 percentage points to 22%, reaching a new survey high.
- · The percentage of Americans who say that home prices will go up increased by 3 percentage points in February to 45%.
- · The percentage of those who say mortgage rates will go down over the next twelve months remained unchanged for the third consecutive month at a negative 55%.
- · The percentage of Americans who say they are not concerned about losing their job rose 9 percentage points to a new survey high of 78%.
- · The net share of Americans who say their household income is significantly higher than it was 12 months ago rose 4 percentage points to 19% in February, continuing the increase from January and reaching a new survey high.
The increased post-election confidence in housing is good
news all around. If you are thinking of
selling or buying, it’s time to get things in motion. Sellers: it’s time to get your homes on the market. Buyers: it’s time to move on your plans
to purchase before prices and interest
rates climb higher.
At Beninati Associates, we keep an eye on the market, and a
ear to the ground. As a buyer or seller,
short of a crystal ball, tracking the economics of the marketplace will help
you decide what to do and when to do it.
You can rely on us – we listen, we care and we get results for you!
Source: Fannie Mae News Release, March 7, 2017
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