All Aboard

January’s version of Fannie Mae’s Home Purchase Sentiment Index showed that consumers’ confidence in housing improved for the first time in five months, and February’s survey saw consumers’ sentiments improving even more.

Good vibes are rocketing through the housing market going into the hot spring selling season and buyers are ready for takeoff. January’s runway of consumer confidence has resulted in an ongoing ascent as, “Fannie Mae’s latest Home Purchase Sentiment Index (HPSI) shows that consumer confidence in housing hit an all-time high in February, continuing a climb in confidence that began in January,” as reported by Housingwire.com, also citing that the index “increased by 5.6 percentage points in February to 88.3, setting an new all-time high”. Senior vice president and chief economist at Fannie Mae, Doug Duncan, claims, “The latest post-election surge in optimism puts the HPSI at its highest level since its starting point in 2011.” Experts across the housing horizon seem to agree as CNBC reports, “Both buyers and sellers alike are feeling very good about the housing market this spring, even as home values hit new highs and mortgage rates move up.” So, despite some sluggish market conditions including lingering constrained housing affordability, prospective home buyers are definitely heeding the call to jump on board.

And in the waiting line skyward, the housing force is being fueled by other positive increases. Real estate reporter, Ben Lane, points to the recent HPSI with, "Additionally, consumers also reported increased confidence about not losing their jobs," which, in part, caused an 11 percentage point rise in the net share of Americans who said that now is a goo time to by and a 7 percentage point rise in those who believe that now is a good time to sell, states Housingwire.com. In fact, CNBC reveals that in general, "More Americans are also reporting slightly higher household income, and a growing number expect home values to rise." Everything considered, all signals point to a first class spring season with experts like, Frank Martell, CEO of CoreLogic, plainly stating, "Home prices continue to climb across the nation, and the spring homebuying season is shaping up to be one of the strongest in recent memory." All turbulence aside, overall economic strengths are making for smooth air and a solid lift off for consumer morale this spring. 

If you need a mortgage for a purchase or refinance, we would love the opportunity to work on your behalf. 

Todd Burns NMLS 254981
JMJ Financial Group
949-547-3557
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