Potential Buyers Feeling Confident But Cautious

Americans feel confident they’re in no danger of losing their jobs but have cooled a bit on the idea of buying a house, according to the most recent results of Fannie Mae’s monthly Home Purchase Sentiment Index. The survey – which asks Americans about their attitudes toward owning a home, price changes, the economy, their finances and more – was virtually flat from the month before but saw a slight decrease in the number of respondents who said now was a good time to buy a home. Doug Duncan, Fannie Mae’s senior vice president and chief economist, said, though Americans feel secure in their jobs, their incomes aren’t growing. “The income growth necessary for renewed momentum in housing market sentiment remains elusive, even though consumers’ confidence in their job security continues to strengthen,” Duncan said. “Consumers’ net view on whether their household income has improved over the last year is down once again this month.” Still, despite the fact that consumers have become slightly more hesitant, the overall index remains near its highest level of the past four years and all indications point to continued strength through the end of the year and into 2016. More here.

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