Get free access to our world class MLS search tools, save your favorite listings, create saved searches & much more!

Consumer confidence in housing hits all-time high

Posted by Julie Wright on Wednesday, March 8th, 2017 at 1:51pm.

Consumer confidence in housing is at an all-time high, with millennials posting strong increases in confidence, according to new data from Fannie Mae.

The Fannie Mae Home Purchase Sentiment Index (HSPI) spiked by 5.6 percentage points last month to 88.3, the highest it’s been since Fannie started keeping records. Five of the HPSI’s six components were up, with three hitting all-time highs.

The net share of Americans who believe that now is a good time to buy a home spiked by 11 percentage points, while the share who believe it’s a good time to sell rose seven percentage points. The share of Americans who report a significant increase in their household income rose by four percentage points. Consumers were also more confident about keeping their jobs, according to Fannie Mae. 

More Americans also expect their homes’ prices to go up, with the net share rising three percentage points. The percentage of people who think mortgage rates will go down, however, held steady for the third consecutive month. 

“The latest post-election surge in optimism puts the HPSI at its highest level since its starting point in 2011. Millennials showed especially strong increases in job confidence and income gains, a necessary precursor for increased housing demand from first-time homebuyers,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “Preliminary research results from our team find that millennials are accelerating the rate at which they move out of their parents’ homes and form new households. However, continued slow supply growth implies continued strong price appreciation and affordability constraints facing millennials and first-time buyers in many markets.”
 
by Ryan Smith
08 Mar 2017

Mastura Roberts
(702) 919-5400
offers@greatlasvegashomes.com

Team Leader, The Tonnesen Team
Berkshire Hathaway HomeServices, Nevada
3185 St Rose Pkwy #100 Henderson, NV 89052

With over 30 years of experience helping families call Las Vegas "home!"



Related Blog Posts

Homeowners: Is Your Vacant Home Really Vacant?

According to Las Vegas Metro police, a lot of times the answer is NO! Whether you are selling a vacant home or in between tenants on a rental property, the home you think is vacant may not be unoccupied after all. This is an incident that actually happened to one of our Las Vegas real estate agents, Ed Orasi, just last...

The Christmas Gift that Changed the World

Even though we are well into January and a new year, I just came across this YouTube video and had to share it. The video, which was released in October 2013, features Tom Brokaw, renowned broadcast journalist, telling the story of Colonel Gail Halvorsen. Colonel Halvorsen, known as the Candy Bomber, is credited with c...

Home-price gains continue strong in January 2017 – report

by Anna Sobrevinas   29 Mar 2017 January marked 31 months of home price gains as it saw a 5.9% annual gain, compared with a 5.7% annual gain the month before, according to new data from S&P CoreLogic Case-Shiller. Year-over-year, the index’s 10-city Composite saw a 5.1% annual increa...

Ed's Summer Vacation - No Rest for Our Agents!

Some of our agents get pretty antsy if they're not working, even on vacation. Ed Orasi is prime example - if his body (or his wife!) would let him work 24/7, he would. He calls or emails the office every day while he is gone, making sure his clients are being taken care of. Here's the latest from Ed during his enfo...

Priced To Sell: Everything You Need To Know About Choosing A Listing Price

5 Listing Price Considerations to Keep in Mind If you’re planning on selling your home or you’re thinking about buying a new home, the listing price is one of the most important factors for success in either case. For the buyer, the listing price matters because a buyer wants to get the best home a...

Leave a Comment

Have a Question?

Contact Us

Follow Us