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

Six Tips for Keeping Burglars Away

There is no better time to take a vacation than the summer. The children are out of school, the weather is warm, and the days stretch long in laid-back beauty.In preparation for your trip, you have placed a hold on the mail and stopped newspaper delivery, but is your house really secure from criminals looking to prey u...

The 10-Step Process to Perform a 1031 Exchange

Let’s walk through the step by step process for carrying out a 1031 exchange. Be aware that the following is just a general outline, so specific deals will likely vary slightly from this process.   The 10-Step Process to Perform a 1031 Exchange 1. Decide to sell and do a 1031 exchange.Not every purchase i...

Beware Homeowners - Judicial Foreclosures Come to Las Vegas!

Nevada has always been a non-judicial foreclosure state.  If a borrower was past due, all the mortgage holder had to do was produce copies of the appropriate documents and file foreclosure notices, and within approximately 5 months the foreclosure sale took place at the county steps. There was no right of redemption f...

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...

Katrina's Real Estate Activity Update

Who says you have to be IN Las Vegas to SELL Las Vegas? Not our agents, that's for sure. Our agents keep a weekly "diary" of general activities, just to keep them focused on what they are actually doing each day. Nothing formal, just a random list of "stuff" they have done during the week, including pesonal time. And...

Leave a Comment

Have a Question?

Contact Us

Follow Us