What's my home worth?

Enter your information and I'll get right back to you with a free home estimate.
Find out!
check

Sent

What's my home worth?

Enter your information and I'll get right back to you with a free home estimate.
Find out!
check

Sent

Tracy Grant

Search Homes For Sale











American Confidence in Housing at an All-Time High

August 12, 2019


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.


Tags:

Featured Listings

listed
Welcome to Agramonte Dr, in Happy Valley, Newhall, where life harkens back to days when neighbors brought you cookies and gathered together for barbeques. This immaculate, 3 bedroom, 2 bath home, with a long reaching view of the Santa Clarita Valley
$749,000
listed
3
beds
2
baths
1,920
Sq Ft
listed
This is the condo you've been waiting for! This town home style home features an open floor plan, an attached garage with laundry hook ups and so much more. The kitchen has granite counters, newer appliances, recessed lighting and a breakfast bar.
$394
listed
3
beds
2.5
baths
1,375
Sq Ft
sold
This Heather Ridge Condominium shows extreme pride of ownership. Wood look ceramic tile throughout the home as well as baseboards, and custom Crown Molding. All rooms have recently been decorated with horizontal blinds.
$430,000
sold
3
beds
2
baths
1,280
Sq Ft
sold
This is the one you've been waiting for. Single story pool home with a 3 car garage on a cul-de-sac. The home features an open kitchen with a large Island so you have lots of counter space. The kitchen opens to the family room with a sliding door
$650,000
sold
4
beds
2
baths
2,107
Sq Ft

Recent Posts

Get Started!