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Survey Says Good Time to Buy

According to the Fannie Mae October National Housing Survey of 1,000 Americans, 50 percent expect home rental costs to increase, providing more incentive to buy a home. RealtorMag tells MHProNews the survey revealed 72 percent of respondents say now is a good time to purchase a home, while only 18 percent note it is a good time to sell. Doug Duncan, Fannie Mae’s senior vice president and chief economist, states, “Increasing household formation, encouraged by an improving labor market, is adding additional momentum to the housing recovery and putting upward pressure on rental price expectations. Expected increases in both owning and renting costs may encourage more consumers to buy and add further strength to the housing recovery already under way.”

(Image credit: firstbanktrust)

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