Morning Minute: Fannie Mae’s Home Purchase Sentiment Hits Survey High in July

Cozy house with beautiful landscaping on a sunny day. Home exter

More consumers are feeling positive about the housing market, home prices and mortgage rates this summer, according to Fannie Mae’s latest Home Purchase Sentiment Index, which rose to an index reading of 86.5 in July, a new high for the survey. There was an uptick in consumers who say now is a good time to buy or sell a home and more Millennials appear to be considering homeownership over renting, the survey found. Click here to read more from Fannie Mae.

“One interesting potential bright note for housing in the July survey is that younger households may finally be shifting toward buying rather than renting in greater numbers. Whether the shift in sentiment in July toward buying rather than renting on their next move holds up or is a temporary reaction to their view that rents are on the rise and mortgage rates will be lower, we will see. However, we are getting set to release some additional research in early August showing evidence of a broader move by older millennials in the direction of ownership,” said Doug Duncan, senior vice president and chief economist at Fannie Mae.

In other headlines:

MBA CEO: Here’s why a new president is pivotal for housing – HousingWire

Student Housing Investments May Hit Record – National Real Estate Investor (via REALTOR® Magazine Daily Real Estate News

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About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.

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