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 Mastura Zaini-Roberts 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

7 BOGUS PRICING MYTHS SELLERS SHOULDN'T FALL FOR

Key Takeaways: Sellers tend to overprice and spend a tremendous amount of effort trying to defend their price, even if the market doesn't support it. Pricing a home correctly is a partnership between sellers and their agent, not a battle of wills. When it comes down to it, the most important advice...

FHA Announces New 1/2% Down Payment Loan!

Save Your Cash for Christmas! Been looking at homes for sale in Las Vegas, but just don't have any extra cash? If you or someone you know has been struggling to come up with the down payment and closing costs for a mortgage, we have great news. There is a new 1/2% down FHA loan that may be your answer.  You coul...

Condo Hotel Loans AND Foreign National Investor Loans are Back!

We finally found a reputable lender with low fees and good rates that can do foreign national investor loans AND/OR loans on condo hotels. This is a "make sense" lender that can do portfolio loans outside the box. They have non warrantable condos and condo hotel financing for US citizens with 20% down payment, min...

The Tonnesen Team is sponsoring a great upcoming charity event that will benefit children’s cancer

The Tonnesen Team is sponsoring a great upcoming charity event that will benefit children’s cancer.  Kicking Cancer will be this Sunday, October 23rd beginning at 3pm.  It will be a fun game of FootGolf, which is soccer on the golf course.  There will be raffle prizes and food as well. ...

Agent Spotlight: Christine Durno

  Among the many highly experienced agents on the Tonnesen Team, Christine Durno is one of our best !   Warm regards,Christine DurnoREALTOR® Find out why people who know me continue to refer their friends and family to me.Berkshire Hathaway HomeServices Nevada Properties3185 St Rose Pkwy #100 H...

Leave a Comment

Have a Question?

Contact Us

Follow Us