Consumer Confidence In Housing Reaches A New High

The Fannie Mae Home Purchase Sentiment Index went up to 88.3 in February, an all-time high. It rose 5.6 percentage points from the previous month.

Based on a survey of 1,000 Americans, the Index found that respondents are more confident about buying and selling their homes. Respondents said they are more optimistic about keeping their jobs, and that they earn more money than they did a year ago.

Also, a greater share of respondents said that they think home prices will go up this year.

“The latest post-election surge in optimism puts the HPSI at its highest level since its starting point in 2011. Millennials showed especially strong increases in job confidence and income gains, a necessary precursor for increased housing demand from first-time homebuyers,” said Doug Duncan, senior vice president and chief economist at Fannie Mae.

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