With more Americans preferring to buy instead of rent and others believing now is a good time to sell, housing is right on track with forecasted improvements this year, a Fannie Mae survey recently reported.
Based on the survey, a growing number of Americans say now is a good time to buy a house, climbing back up to 66 percent. The amount of Americans who believe it is a good time to sell also increased, surpassing a survey record.
“Things are looking up for housing,” says Fannie Mae Senior Vice President and Chief Economist Doug Duncan. “Those saying it is a good time to sell a house hit a survey high of 49 percent. Also, the percentage of consumers telling us their household income is significantly higher than 12 months ago grew six percentage points to 28 percent over the past two months.”
Additionally, more than half of Americans expect rents to rise, further boosting optimism for buying a home.
Source: Fannie Mae