Americans Say It’s A Good Time To Buy

The share of Americans who say it’s a good time to buy a home rose in October, according to a recent survey from Fannie Mae. The Home Purchase Sentiment Index – which measures Americans feelings about buying and selling homes, mortgage rates, prices, the job market, and their financial situation – found there was a 9 percent month-over-month gain in the number of respondents who say it’s a good time to buy. Similarly, the share of participants who said it’s a good time to sell a house also rose, climbing 6 percent from the month before. Doug Duncan, Fannie Mae’s senior vice president and chief economist, said housing market sentiment has rebounded significantly since the coronavirus pandemic began. “To date, the HPSI has recovered over 60 percent of its COVID-19 pandemic loss, reflecting the bright spot that the mortgage market has been in the economy,” Duncan said. “However, the continuing evolution of the pandemic and the 2020 election outcomes may have longer lasting and unexpected impacts on consumer sentiment, as we saw following the 2016 elections, and we expect both factors will shape the housing market over the coming months.” (source)

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