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 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.”
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
Selling a home is a business -- take the personal out of it Key Takeaways: Sellers should keep the home in a ready-to-show state, which means toning down decor, cranking the air conditioning and turning up the lights. The sellers have decluttered, painted, made repairs and spiffed up the lands...
Check out our newest listing - brand new on the market today and value priced at only $215k! Absolutely gorgeous MINT CONDITION Solera Whitney model in Anthem - Henderson, NV! Bright and airy 1596 sf one story with great room floor plan, tile floors and upgraded carpet, spacious island kitchen with corian counters, tw...
901 Single Tree Dr. is a rare find. NO HOA! Pride of Ownership! This adorable & immaculate house has it all! 1-story with 2 bed/2bath and a sparkling pool/spa with roll-out solar cover. Mature landscaping, smart drip irrigation system, flowers, & gorgeous palm trees. Kitchen featuring stainless...
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...
Now that you have seen the “Strip,” you may wonder if Las Vegas would be a great place to live. As you start your research, know that the individual tax picture here is one of the lowest of anywhere in the U.S. You have probably seen articles about our great climate with more than 330 sunshine days a...