Each month Fannie Mae conducts a survey of approx. 1,000 Americans via telephone interview. Fannie Mae's National Housing Survey is the most detailed consumer survey conducted right now. 

The goal of this survey is to assess their individual attitudes toward: 

1. Owning or renting their home
2. Home rental price changes 
3. Homeownership distress
4. The current economy 
5. Household finances
6. Overall consumer confidence

  The homeowners and renters surveyed are asked more than 100 questions. Their answers are used to help track shifts in their attitudes toward homeownership. Their answers will help industry partners and market participants target the collective efforts to stabilize the housing market. 

  The answers that Fannie Mae collects from the survey are then used to help create the Home Purchase Sentiment Index (HPSI). The HPSI takes all of the information gathered and creates a single number to be used. The number then reflects the current consumer views and expectations of the housing market conditions. 

  For the month of July the survey was conducted between July 1, 2019 and July 23, 2019, with most of the data being collected during the first 2 weeks of that period.

  The results of the July 2019 survey are as follows:

• The home purchase sentiment index has increased 2.2 total points to 93.7
• 5 out of the 6 home purchase sentiment index components increased in July
• An 8% point increase in the "confidence about not losing a job" component is driving the index higher than ever
• In the past year the "forward-looking job confidence: and the "mortgage rates will go down" components are up 16% and 24% respectively. 
  • These two points on the home purchase sentiment index are at an all new survey high
• The net shares of Americans who say that now is a good time to buy a home has increased to 26%, gaining 2% from the same time period last year. 
• The net shares of Americans who say the mortgage rates will go down over the next 12 months has increased to -28%, gaining 24% from the same period last  year. 
• The net share of Americans who say they are not concerned about losing their jobs over the next 12 months has increased to 81%, gaining 16% from the same period last year. 

  So what does this all mean? It means that now more than ever Americans have confidence in the market. The overall feeling of homeowners has risen this  year, less Americans are afraid of losing their jobs, and more Americans have confidence in the mortgage rates. If you have thought about buying a home now is the time to take that step! Let us help you find your new home.