Nearly 60% Of Americans Say Now's The Time To Buy
Each month, Fannie Mae's Home Purchase Sentiment Index surveys Americans to measure interest in home buying and selling. The index looks at how people view the housing market, home prices, mortgage rates, jobs, income, and expectations for the future. In February, the HPSI was relatively flat from the month before but remained near all-time highs. In fact, the survey found 59 percent of Americans believe now is a good time to buy a house and 67 percent say it's a good time to sell. Doug Duncan, Fannie Mae's senior vice president and chief economist, says the housing market has started the year off strong. “The HPSI remained relatively steady in February, reflecting another month of robust consumer sentiment consistent with strong housing market data to start the year,” Duncan said. “In particular, household income sentiment picked back up as more workers saw their wages rise amid tight labor market conditions, helping bolster already strong housing demand.” However, though Americans are optimistic about the housing market and economy, Duncan warns that February's results don't yet account for the potential economic impact of the coronavirus, which could affect future survey results.