Fannie Mae’s Home Purchase Sentiment Index rose in December, close to its record high. Of those surveyed, 59% say it’s a good time to buy, up 16% versus a year ago, while 65% think it’s a good time to sell, up 7% from last year.
The Fed’s Flow of Funds report pegged the value of all owner-occupied homes at a record $29.2 trillion in Q3, 21% higher than the peak reached in 2006. But prices rose at a slower pace than the year before.
Freddie Mac’s chief economist: “The drop in mortgage rates, combined with the strong labor market, should propel a continued rise in buyer demand.” Hey, November home builder confidence hit its second highest level of 2019.