There were some good news nuggets that came out of the recent Fannie Mae National Housing Survey of American homeowners and renters, including the fact that 70 percent think now is a good time to buy a home, marking a six point increase from January. The same survey found that one in three Americans believe now is a very good time to buy.
Homeownership has long been a part of the American Dream. It offers not only a place to call one’s own but is the way that many families begin to accumulate wealth. Studies have also shown that homeownership plays a vital role in building strong and stable communities.
Homeownership is important, a sentiment reflected by 82 percent of respondents to the Fannie Mae survey who said homeownership is important to the economy, a two point increase compared to January.
Some other findings from the survey:
- More than 78 percent of people think home prices will stay the same or go up over the next year.
- 84 percent of consumers believe owning makes more sense than renting.
- 67 percent said they believe buying a home is a safe investment.
Read the full Fannie Mae National Housing Survey.