On Feb. 9, Fannie Mae released the findings of its January 2015 National Housing Survey[TM], and the results documented rising consumer optimism about the housing market.
The share of survey respondents who said that their household income was significantly higher than 12 months ago rose 4 percentage points to 29 percent. The share expecting their personal financial situation to improve over the coming year rose to 48 percent. Both of those findings were all-time survey highs, the company said.
Even more promising, the share that said it is a good time to buy a home increased 3 percentage points to 67 percent in January.
And on the buy-versus-rent front, the number of respondents that said they would buy rather than rent if they were to move jumped by 5 percentage points to 66 percent. That was the first increase in that number since September 2014.
Fannie Mae Chief Economist Doug Duncan said, "Consumers are as positive about their personal finances at the start of 2015 as they have been since we launched the National Housing Survey in 2010, and this optimism seems to be spilling over into housing market attitudes."
Duncan added, "Consumers are more optimistic about the environment both for buying and for selling a home today, and the share who plan to own on their next move has jumped back up, reversing a three-month trend toward renting."
In other findings, the share of respondents who say home...