With rental prices expected to rise and household expenses remaining stable, consumers are becoming more optimistic about homeownership, according to Fannie Mae’s October National Housing Survey. Among survey respondents, 72 percent said now is a good time to buy a home. HousingWire has the full story.
“This has been a year of steady growth in the percentage of consumers with positive home price expectations,” Doug Duncan, senior vice president and chief economist of Fannie Mae, told HousingWire. “Increasing household formation, encouraged by an improving labor market, is adding additional momentum to the housing recovery and putting upward pressure on rental price expectations. Expected increases in both owning and renting costs may encourage more consumers to buy and add further strength to the housing recovery already under way.”
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