ARLINGTON, Va.—Consumer sentiment regarding the housing market rose 3.4 point in April to 91.7 – a new Fannie Mae Home Purchase Sentiment Index high.
NAFCU Chief Economist and Vice President of Research Curt Long called the survey results "encouraging."
"The improvement in seller sentiment is encouraging," Long said. "More home listings would help ease the price pressures we have seen for years in the housing market."
The jump in consumer sentiment is due to increases in five of the six survey components. Those respondents who said now is a good time to buy a home was the only component of the April survey to decrease – falling three percentage points compared to March, Long said.
Among the high points of the April data, according to Long:
- The share who said it's a good time to sell a home increased six percentage points
- The net share of respondents who said home prices will go up in the next 12 months increased seven percentage points during the month
- The net share of consumers who said mortgage rates will go down over the next 12 months increased four percentage points
- The net share of consumers who said household income is significantly higher than it was 12 months ago increased one percentage point
- The net share who said they are not concerned about losing their job increased five percentage points