Consumers' Attitudes Bode Well for Housing Market: Fannie Mae

The home sales market may be ready to trend upward, based on consumers' responses in a recent Fannie Mae survey.

In response to a question about the timing of home sales, 52% of consumers in June said they believe now is a good time to sell. That's the first time that figure has surpassed 50% in the history of Fannie Mae's monthly National Housing Survey.

In a separate question about the direction of rental home prices, 59% of consumers in June said they expect rents to increase over the next 12 months. That's an increase of four percentage points compared to May, and it's also an all-time high in the Fannie Mae survey.

Combined, the two responses — higher rental prices and the belief that it's a good time to sell — could portend well for the housing market, Fannie Mae said.

"These results point to a healthier home purchase market, with more renters likely to find owning to be more cost-effective than renting and more sellers likely to put their homes on the market," Doug Duncan, Fannie Mae's chief economist, said in a news release.

Fannie Mae's National Housing Survey polls 1,000 Americans each month to gauge their attitudes on the housing market, rental market, the economy, household finances and more.

In additional findings from the June survey, the number of consumers who said mortgage rates will rise over the 12 months increased by three percentage points to 50%. The average 12-month rental price change expectation fell to 4.2%.

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Originations Real estate Secondary markets Housing
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