Elena Zimina's Real Estate

In May, more people than ever say it is a good time to sell your home, according to Fannie Mae’s Home Purchase Sentiment Index, an index which polls 1,000 Americans to assess their attitudes towards various aspects about owning and renting a home. The index increased to an all-time high. The new share of consumers who expect home prices to go up over the next 12 months increased 5 percent to 42 percent. This was followed by 3 percent increase in the net share of consumers who expect mortgage interest rates to go down over the next 12 months. Of the six HPSI components, six of them increased in May. The largest increase was 7 percent to 18 percent in the share of consumers reporting that their income was significantly higher than it was 12 months ago.

RENTERS VALUE HOMEOWNERSHIP BUT FACE AFFORDABILITY CHALLENGES WHEN IT COMES TO BUYING A HOME, C.A.R. SURVEY FINDS Source: C.A.R. Current renters value homeownership and want to buy a home but many are encountering affordability and financial obstacles that prevent them from buying, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) “2016 Renter Survey. Making sense of the story Nearly half of renters (48 percent) plan to buy a home in the future, with 10 percent saying that they plan to buy within a year. For those not planning to buy, an improvement in finances, lower housing prices, and saving enough for a down payment would motivate them to buy now. Of the 28 percent of renters who don’t plan to buy in the future, 50 percent said they can’t afford to buy, 20 percent will not buy because they prefer to rent, 19 percent said they can’t qualify for a mortgage, and 15 percent lack a down payment. Job uncertainty (9 percent), economic uncertainty (12 percent),