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The MReport Webcast: Wednesday 7/8/2015

Consumer attitudes toward the current condition of the home selling market and future home rental prices may launch purchase activity forward for the rest of 2015, according to Fannie Mae’s June 2015 National Housing Survey. Optimism among consumers about the housing market has reached new survey highs and strong job and income growth are making consumers appear more favorable in the selling market, indicating a possible increase in the existing home supply.

 

According to the survey, an increase in housing supply from sellers along with higher rental cost expectations, may motivate more potential homebuyers to purchase. Among those questioned, 52 percent believe that now is a good time to sell a home, a new survey high and the first time in history this number has surpassed the 50-percent threshold. Simultaneously, 59 percent of those surveyed said they expect rental prices to go up in the next 12 months, also a new survey high. Tying a survey low, 63 percent of respondents say that now is a good time to buy a home.

 

Home prices nationwide, including distressed sales, increased by 6.3 percent in May 2015 compared to this time last year, according to CoreLogic’s May 2015 Home Price Index Report. This will make 39 months of consecutive year-over-year increases in home prices nationally.

About Author: Jordan Funderburk

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