The stock market is experiencing some ups-and-downs, which may cause consumers to question their investments—but when it comes to real estate, Americans have never felt more confident.
Fannie Mae’s Home Purchase Sentiment Index (HPSI), which measures consumer confidence in the economy and real estate market, surged to 93.7 in July 2019—an all-time survey high. Of the six components measured by the HPSI, five showed month-over-month increases: consumers who say it’s a good time to buy a home (up 3 percent), consumers who say it’s a good time to sell a home (up 1 percent), consumers who believe mortgage prices will drop in the next 12 months (up 1 percent), consumers who say they’re unconcerned about losing their job in the next 12 months (up 8 percent), and consumers who say their household income is higher than last year (up 1 percent).
What does that mean for you? With consumer confidence at an all-time high, there’s never been a better time to get involved in the real estate market—so if you’ve been thinking about buying or selling, now’s a great time to get a move.