Lisa Yanowitz: C: (305) 986-1018  |  O: (305) 945-4100   Email

Miami real estate news

Fannie Mae’s monthly survey found less pessimism over potential job losses and an increasing number of buyers (up 3%) and sellers (up 3%) who think it’s a good time enter the market. Overall, the index rose 3.3 points to 77.5, though a year ago it was 93.8.

WASHINGTON – With high buyer demand for homes, it’s not too surprising Americans expressed optimism about home selling. But even with frustration over the lack of listings, Americans also say it’s a good time to buy – in fact, more Americans are bullish over buying than selling.

Fannie Mae’s Home Purchase Sentiment Index, which reflects the attitudes of more than 1,000 respondents toward housing, shows that consumer sentiment over five of six housing indicators increased in August. Consumers are more optimistic than previously over buying and selling, and fewer are worried about job losses.

The buyer optimism stems from near-record low mortgage rates, which are helping to “restore much of consumers’ positivity on whether it is a good time to buy a home, while also improving the good-time-to-sell sentiment,” says Doug Duncan, Fannie Mae senior vice president and chief economist. “The August survey was conducted as consumers continue to face uncertainty regarding schools’ and business’ reopening plans, and as the CARES Act $600-per-week income supplement expired.”

However, Fannie Mae’s Home Purchase Sentiment Index is still down year-to-year. It rose 3.3 points in August to a reading of 77.5, but it’s still down 16.3 points compared to August 2019.

Snapshot of August findings

  • Homebuying expectations: The percentage who said it’s a good time to buy increased from 53% to 59% in August.
  • Home selling expectations: The percentage who said it’s a good time to sell rose from 45% to 48%.
  • Home prices: Fewer respondents believe home prices will rise over the next 12 months, the percentage decreasing in August from 35% to 33%. The percentage who said home prices will likely fall decreased to 26%, while the share who think home prices will stay the same was unchanged at 34%.
  • Mortgage rates: The percentage who think mortgage rates will move even lower over the next year increased to 33%, while 45% believe mortgage rates will stay the same.
  • Job concerns: Job worries eased in August: 78% said they’re not concerned about losing their job in the next 12 months, up slightly from 76% the previous month.
  • Household income: The percentage who said their household income is significantly higher than it was a year ago rose to 25% in August. The percentage of respondents who say their household income is significantly lower was unchanged at 16%, while 59% said it stayed the same.

Source: Fannie Mae

© Copyright 2020 INFORMATION INC., Bethesda, MD (301) 215-4688

The Hospitality Life
What is My Home Worth?
Resource Center
Client Testimonials
Sunday, October 25, 2020

7 Scary Things to Avoid If You...
It may sound surprising, but doing Halloween dcor right may actually help you sell your home...

Why Fall Is the Best Time for ...
Spring is often thought of as the best time for planting, but do you know that plating in fa...

Copyright ©2020 - Realty Times®
All Rights Reserved.

New Listing Miami Beach
New Listing 1551 West Ave #4 The Daria Condo Miami Beach . 2 Beds | 2 Baths...

Just Listed | West Park
just L I S T E D 112 Allen Road West Park . OPEN HOUSE Saturday, October...

Just Listed | Victoria Park
  just L I S T E D✔️ Victoria Park🌳 1625 NE 5h Court Fort Lauderdale . 3...

Report: If Foreclosures Hit Market, It Won’t be Until 2022
Homeowners in forbearance don’t have to make payments until at least March 2021....

Under Contract - Tall Trees Condo
Under C O N T R A C T Tall Trees Condo #106 North Miami Beach 1 Bed | 1 Bath |...

How often should I check my roof?
While you may not think about your roof every day, you want to make sure that your roof...

Under Contract - Hollywood Hills
Under C O N T R A C T ✔️ 919 Van Buren Street Hollywood Lakes ⛵️ 3 🛏 2.5 🛁 3,056 SF📐 . Last...

U.S. Housing Roars Back Despite Recession, High Unemployment
U.S. Housing Roars Back Despite Recession, High Unemployment By Alex Veiga Moody’s...

Closed Sale | Lauderdale Shores | Fort Lauderdale
C L O S E D sale Lauderdale Shores 2316 Castilla Isle Fort Lauderdale 3 🛏...

Fla.’s Housing Market: Sales and Median Prices Rose in August
Fla.’s Housing Market: Sales and Median Prices Rose in August By Marla Martin Florida...

Client Login
Recieve Email Alerts