Newsroom

December 07, 2017

November sees positive bump in Americans' home buying sentiment

Fannie Mae's November national housing survey revealed "fairly stable consumer home-buying attitudes": The share of Americans who believe "now is a good time to buy a home" increased 7 percentage points from October, and those who believe "now is a good time to sell" increased 4 percentage points.

As a result, November's Home Purchase Sentiment Index rose 2.6 points to 87.8, nearing its all-time high of 88.3 in September. NAFCU Vice President of Research and Chief Economist Curt Long said he expects the growth to continue, but high housing prices could be an opposing factor.

"The housing market continues to plod along," Long said. "While a breakthrough in purchase growth is unlikely for 2018, there should be more slow-but-steady progress."

Looking ahead, Fannie Mae expects next month's survey to potentially be impacted by the outcome of federal tax reform efforts, which is likely to influence Americans' views on housing and the economy as a whole.

Additionally, the survey found that the share of Americans who are not concerned about losing their jobs rose to 74 percent. Wage growth remained unchanged as 14 percent of respondents said their household incomes are significantly higher than a year ago.