Homeownership and Renting
• At 3.8 percent, the average 12-month home price change expectation fell slightly from last month’s survey high.
• The share of people who say home prices will go up in the next 12 months hit a survey high 57 percent, while those who say home prices will go down held steady at the survey low 7 percent.
• The share of respondents who say mortgage rates will go up increased 11 percentage points to 57 percent, the highest level since the survey’s inception.
• At 72 percent and 36 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 fell 4 percentage points from May’s survey highs.
• The average 12-month rental price expectation jumped to 4.6 percent, a 1.2 percent increase over last month.
• Increasing 8 percentage points from May and reaching a survey high, 56 percent of those surveyed say home rental prices will go up in the next 12 months.
• Forty-seven percent of respondents think it would be easy for them to get a home mortgage today, a slight increase over last month.
• The share of respondents who said they would buy if they were going to move decreased slightly to 65 percent.