Home buyers were feeling a little more optimistic as 2022 came to a close, according to the most recent results of Fannie Mae’s monthly Home Purchase Sentiment Index. The survey – which asks Americans whether they think now is a good time to buy or sell a home, where they think mortgage rates and home prices are headed, and how secure they feel financially – found a rising number of respondents who said they think now is a good time to buy a home. In fact, the survey found an 8 percent month-over-month net increase in participants who said it’s a good time to buy. Doug Duncan, Fannie Mae’s senior vice president and chief economist, says Americans expect mortgage rates and prices to come down over the next year. “In December, the HPSI inched upward slightly, as consumers reported increased expectations that mortgage rates and home prices may decrease over the next year – perhaps reflecting recently observed declines in mortgage rates and average home prices,” Duncan said. (source)
