Fannie Mae’s Home Purchase Sentiment Index is a monthly survey that looks at how Americans feel about buying and selling homes in today’s market. The survey asks participants for their opinions on home prices, mortgage rates, their personal financial situation, job security, etc. In February, the index was relatively flat. Results show fewer respondents said it was a good time to buy or sell a home than did the month before. There was also an increase in the number of respondents who said they believe home prices and mortgage rates will rise in the next 12 months. The biggest change, though, was in job security numbers, with a 14 percent increase in the number of participants who said they aren’t concerned with losing their job. Doug Duncan, Fannie Mae’s senior vice president and chief economist, says there are a number of reasons Americans may be feeling optimistic. “With the growing likelihood that lockdown restrictions will continue easing as vaccination efforts ramp up, and with warmer weather on the horizon and another round of fiscal stimulus pending … consumers may have good reason to feel more positive about the labor market,” he said. Duncan believes housing and economic attitudes will improve in the months ahead. (source)
Americans Optimistic About Job Security
