Americans are feeling financially confident and it's good news for the housing market, according to the latest Home Purchase Sentiment Index from Fannie Mae. The survey - which measures consumers' perceptions of buying and selling a home, job security, mortgage rates, prices, etc. - hit a new high in July. Doug Duncan, Fannie Mae's chief economist, says it's due to favorable mortgage rates and increased job confidence. “Consumer job confidence and favorable mortgage rate expectations lifted the HPSI to a new survey high in July, despite ongoing housing supply and affordability challenges,” Duncan said. “Consumers appear to have shaken off a winter slump in sentiment amid strong income gains. Therefore, sentiment is positioned to take advantage of any supply that comes to market, particularly in the affordable category.” In other words, Americans are feeling good about their income and may be ready to buy. In fact, the survey found a 3 percent month-over-month increase in the number of respondents who said now was a good time to buy a house.
A strong job market is also being seen in Eastern, NC, where the housing market has had a very good summer season. This area has continued to build many new homes, especially in the entry level size homes and this has helped to keep prices lower. That along with low interest rates has brought buyers out and homes are selling. To see some of the homes available in this area go to: https://www.firstcarolina.com/listings/ or join social media at: https://www.facebook.com/fcrhavelock/?notif_t=page_admin.
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