Americans’ Optimism about Buying and Selling a Home Hits Record Levels
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Homeownership and Renting
- The average 12-month home price change expectation jumped to 3.9 percent, the highest level since the survey’s inception.
- The share of people who say home prices will go up in the next 12 months hit a survey high of 55 percent, while those who say home prices will go down dropped to 7 percent, the lowest level since the survey’s inception.
- The share of respondents who say mortgage rates will go up increased 3 percentage points to 46 percent, while those who say rates will go down hit a survey low of 5 percent.
- At 76 percent and 40 percent, respectively, the shares who say it is a good time to buy a house and who say it is a good time to sell a house both reached survey highs.
- The average 12-month rental price change expectation dropped to 3.4 percent, the lowest level since September 2012.
- Holding steady from last month, 48 percent of those surveyed say home rental prices will go up in the next 12 months.
- Retreating slightly from last month’s survey high, 46 percent of respondents think it would be easy for them to get a home mortgage today.
- The share of respondents who said they would buy if they were going to move increased slightly to 66 percent.
The Economy and Household Finances
- At 40 percent, the share of respondents who say the economy is on the right track increased slightly from April.
- The percentage of people who expect their personal financial situation to get better over the next 12 months held steady at 41 percent.
- The share of respondents who say their household income is significantly lower than it was 12 months ago fell 3 percentage points to a survey low 13 percent.
- The percentage of respondents who say their household expenses are significantly higher than they were 12 months ago rose slightly to 32 percent.
For more information, visit http://www.fanniemae.com/progress.
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