Each month, Fannie Mae conducts a survey asking respondents for their perception of the housing market, buying and selling a home, mortgage rates, their job, home prices, etc. Their Home Purchase Sentiment Index is meant to gauge Americans' interest in buying a home. In November, the Index improved, with a significant increase in the number of participants who said they thought now was a good time to buy a house. In fact, the percentage of Americans who think it's a good time to buy rose to 61 percent from 57 percent the previous month. That's the highest it's been since March 2018. Doug Duncan, Fannie Mae's senior vice president and chief economist, says low mortgage rates have helped prospective home buyers, but inventory remains an obstacle. “Over the past year, a growing share of consumers say that they expect mortgage rates to remain steady,” Duncan said. “While low rates have helped boost housing affordability compared to last year, the HPSI has increased only moderately in that timeframe. This may be due in part to the ongoing challenge of tight housing supply, especially in the starter home market.” There is one area though that has shown a better purchase market than in a lot of other areas. That is Eastern, NC. This area has built many new homes in many sizes and price ranges, but mainly in the entry level size. This has brought out the buyers and made it possible for so many more people to be able to get into the housing market. To see some of the homes available go to: https://www.firstcarolina.com/listings/ or join social media at: https://www.facebook.com/fcrhavelock/?notif_t=page_admin. More here.
