Most Americans Still Say It’s A Good Time To Buy A Home

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House shoppers aren’t turned off by rising home prices and mortgage rates

May 09, 2017

Photo: Pixabay

According to the latest National Housing Survey from Fannie Mae, 62 percent of Americans said that April was a good time to purchase a house. The share is up from 60 percent in March and 61 percent last April.

Realtor.com reports that potential buyers are optimistic despite rising home prices and mortgage interest rates. From the survey, 53 percent of respondents said that they believe housing prices will increase within the next year, 62 percent said that mortgage rates will rise over the same time.

Also, 57 percent of respondents said that April was a good time to sell, down from 60 percent in March. A feeling of stability is also common, as 88 percent said that they weren’t worried about losing their jobs. A quarter of respondents said they will make more money than last year.

"People are going to make a long-term financial commitment to purchasing a home because they have the income, they have the job, and they are more confident they are going to be able to keep that job,"  said realtor.com®'s senior economist, Joseph Kirchner. "People's fears and insecurities [that] they got during the recession are waning."

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