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Number of optimistic buyers hits all-time high – Time to buy

WASHINGTON – Aug. 12, 2016 – Home purchase sentiment reached an all-time survey high in July, an indication that Americans are feeling more upbeat about the housing market, according to Fannie Mae.

Overall sentiment rose 3.3 points to a reading of 86.5. Each of the index’s six components– including selling outlook and personal finances – also rose last month.

The share of consumers who said they would buy if they were going to move climbed to 67 percent, while the share of consumers who said they would rent dropped to 26 percent, an all-time survey low.

Forty-one percent of consumers expect home prices to rise over the next 12 months, an increase of 8 percentage points from June. Household income rebounded in July as well, rising 3 percentage points to 11 percent.

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