Fannie Mae just released the July edition of their Home Purchase Sentiment Index (HPSI). The HPSI takes information regarding consumers’ confidence in the real estate market from Fannie Mae’s National Housing Survey and condenses it into a single number. Therefore, the HPSI reflects consumers’ current views and forward-looking expectations of housing market conditions.
Great News! The index reached its highest level since Fannie Mae began their survey. Breaking it down, the report revealed:
- The share of Americans who say it is a good time to buy a home increased from the same time last year.
- The share of those who say it is a good time to sell a home increased from the same time last year.
- The share of Americans who say they are not concerned about losing their job over the next 12 months increased dramatically (16 percentage points) from the same time last year.
- The share of Americans who say mortgage rates will go down over the next 12 months increased dramatically (24 percentage points) from the same time last year.
The day after the index was released, Freddie Mac also announced the 30-year fixed-rate mortgage rate fell to its lowest level in three years.
Doug Duncan, Senior Vice President and Chief Economist at Fannie Mae explained the uptick in the index:
“Consumer job confidence and favorable mortgage rate expectations lifted the HPSI to a new survey high in July, despite ongoing housing supply and affordability challenges. Consumers appear to have shaken off a winter slump in sentiment amid strong income gains. Therefore, sentiment is positioned to take advantage of any supply that comes to market, particularly in the affordable category.”
Bottom Line
Consumers are feeling good about the real estate market. Since Americans are not worried about their jobs, see mortgage rates near an all-time low, and believe it is a good time to buy, the housing market will remain strong for the rest of the year.
Homes for Sale In Utah
[idx-platinum-widget id=”21243-48027″ ]
Auto DraftTime Is Money When It Comes to Your Home
If you bought your home a number of years ago, chances are you have a lot of opportunities between your home equity and today's low mortgage rates. Let's connect to make sure you don't miss out.
Important News! Buying a Home Could Cost You!
Waiting To Buy a Home Could Cost You Some Highlights If you’re thinking of buying a home but wondering if waiting a few years will save you in the long run, think again. The longer the wait, the more you’ll pay, especially when mortgage rates and home prices rise....
A Look at Home Price Appreciation Through 2025
A Look at Home Price Appreciation Through 2025 Home prices have increased significantly over the last year, which in turn has grown the net worth of homeowners. Appreciation and home equity are directly linked – as the value of a home increases, so does a homeowner’s...
Happy Independence Day
Happy Independence Day!Wishing you a happy and safe Independence Day.
What Do Experts See on the Horizon for the Second Half of the Year 2021?
What Do Experts See on the Horizon for the Second Half of the Year?As we move into the latter half of the year, questions about what’s to come are top of mind for buyers and sellers. Near record-low mortgage rates coupled with rising home price appreciation kicked off...
What To Expect as Appraisal Gaps Grow
What To Expect as Appraisal Gaps GrowIn today’s real estate market, low inventory and high demand are driving up home prices. As many as 54% of homes are getting offers over the listing price, based on the latest Realtors Confidence Index from the National Association...
Save Time and Effort by Selling with the Right Agent
Save Time and Effort by Selling with the Right AgentSelling a house is a time-consuming process – especially if you decide to do it on your own, known as a For Sale By Owner (FSBO). From conducting market research to reviewing legal documents, handling negotiations,...
Tips for Today’s Sellers
Tips for Today's Sellers Even in today's ultimate sellers' market, it's key to have an expert guide when you sell your house. Let's connect to optimize your home sale this summer.
Don’t Wait To Sell Your House
Don’t Wait To Sell Your HouseWe’re in the ultimate sellers’ market right now. If you’re a homeowner thinking about selling, you have a huge advantage in today’s housing market. High buyer demand paired with very few houses for sale makes this the optimal time to sell...
Today’s mortgage rates are still incredibly low compared to the historical norm. Let’s connect so you can strike while the iron is hot.
There's Still Time To Take Advantage of Historically Low Mortgage RatesToday's...
Why You May Want To Cash in on Your Second Home
Why You May Want To Cash in on Your Second HomeWhen stay-at-home mandates were enforced last year, many households realized their homes didn’t really fulfill their new lifestyle needs. An office (in some cases two), a media room, space for children to learn, a gym,...
Buying a Home Is Still Affordable
Buying a Home Is Still AffordableThe last year has put emphasis on the importance of one’s home. As a result, some renters are making the jump into homeownership while some homeowners are re-evaluating their current house and considering a move to one that better fits...
3 Things To Prioritize When Selling Your House
3 Things To Prioritize When Selling Your HouseToday’s housing market is full of unprecedented opportunities. High buyer demand paired with record-low housing inventory is creating the ultimate sellers’ market, which means it’s a fantastic time to sell your house....
Why Is This Spring a Great Time to Sell Your House?
Why Is This Spring a Great Time to Sell Your House?
Your House Could Be the Oasis in an Inventory Desert
Your House Could Be the Oasis in an Inventory DesertHomebuyers are flooding the housing market right now to take advantage of record-low mortgage rates. Many have a sense of urgency to find a home soon since experts forecast a steady rise in both rates and home prices...
It’s Not Too Late To Apply For Forbearance
It’s Not Too Late To Apply For Forbearance Over the past year, the pandemic made it challenging for some homeowners to make their mortgage payments. Thankfully, the government initiated a forbearance program to provide much-needed support. Unless they’re extended once...
Americans Have Their Hearts Set on Homeownership
801-205-3500
Are Interest Rates Expected to Rise Over the Next Year?
Are Interest Rates Expected to Rise Over the Next Year?So far this year, mortgage rates continue to hover around 3%, encouraging many hopeful homebuyers to enter the housing market. However, there’s a good chance rates will increase later this year and going into...
Single Family Inventory on The Rise for May
It’s a Great Time for Your House to Shine
It's a Great Time for Your House to Shine April 30, 2021 Today's housing market makes it easy to win as a seller. Let's connect if you're ready to make a move this year.
Utah Housing This Isn’t a Bubble. It’s Simply Lack of Supply
This Isn’t a Bubble. It’s Simply Lack of Supply. [INFOGRAPHIC] Some Highlights In a recent article, Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), discussed the state of today’s housing market. When addressing whether or not today’s high...
Endless Utah Real Estate Possibilities
Top 4 Reasons to Own a Home
Top 4 Reasons to Own a Home Owning a home can have an incredible impact on your quality of life. Let's connect if you're ready to make your dream of homeownership a reality.
4 Major Reasons Households in Forbearance Won’t Lose Their Homes to Foreclosure
4 Major Reasons Households in Forbearance Won’t Lose Their Homes to ForeclosureThere has been a lot of discussion as to what will happen once the 2.3 million households currently in forbearance no longer have the protection of the program. Some assume there could...
Don’t Sell on Your Own Just Because It’s a Sellers’ Market
Don’t Sell on Your Own Just Because It’s a Sellers’ MarketIn a sellers’ market, some homeowners might be tempted to try to sell their house on their own (known as For Sale By Owner, or FSBO) instead of working with a trusted real estate professional. When the...
Top 10 commercial real estate markets for 2021
NAR Study Puts Salt Lake in Top 10 Commercial Markets The National Association of Realtors® identified the top 10 commercial real estate markets for 2021. They are: Austin-Round Rock, Texas; Cape Coral-Fort Myers, Florida; Charleston-North Charleston, South...
What It Means To Be in a Sellers’ Market
What It Means To Be in a Sellers’ Market If you’ve given even a casual thought to selling your house in the near future, this is the time to really think seriously about making a move. Here’s why this season is the ultimate sellers’ market and the optimal time to make...
2021 Real Estate Myth Buster
2021 Real Estate Myth BusterSome HighlightsThere are a lot of misconceptions about buying or selling a home today, making it challenging to know exactly how to navigate the current real estate landscape.Here’s a little clarity when it comes to 5 common myths about the...
What Credit Score Do You Need for a Mortgage?
What Credit Score Do You Need for a Mortgage? According to data from the most recent Origination Insight Report by Ellie Mae, the average FICO® score on closed loans reached 753 in February. As lending standards have tightened recently, many are concerned over whether...
Thinking of Buying or Selling This Spring? Free How to Guide
>>>> Free Guides to Buying and Selling this spring! <<<<
6 Simple Graphs Proving This Is Nothing Like Last Time
6 Simple Graphs Proving This Is Nothing Like Last Time Last March, many involved in the residential housing industry feared the market would be crushed under the pressure of a once-in-a-lifetime pandemic. Instead, real estate had one of its best years ever. Home sales...
5 Reasons to Sell Your House This Spring
5 Reasons to Sell Your House This Spring When selling a house, most homeowners hope for a quick and profitable transaction that puts them in a position to make a great move. If you’re waiting for the best time to win as a seller, the market is calling your name this...
How to Prepare Your House for a Winning Sale This Spring
How to Prepare Your House for a Winning Sale This Spring Some Highlights With so few homes available to buy today, houses are in high demand, and they’re selling fast. That means it’s a great time to sell if you’re ready to make a move. Let’s connect to make sure...
Is It a Good Time to Sell My House in Utah
Is It a Good Time to Sell My House In Utah?Last year, many homeowners thought twice about selling their houses due to the onset of the health crisis. This year, however, homeowners are beginning to regain their confidence when it comes to selling safely. The...
Salt Lake County Market Report by Utah Realty
Looking to sell your home in this intense real estate market?
Looking to sell your home in this intense real estate market? Looking to sell your home in this intense real estate market? If you are, it's possible you will receive multiple offers on your home depending on its condition, location and price. Reviewing multiple...
How Smart Is It to Buy a Home Today
How Smart Is It to Buy a Home Today?Whether you’re buying your first home or selling your current house, if your needs are changing and you think you need to move, the decision can be complicated. You may have to take personal or professional considerations into...
What Are the Benefits of a 20% Down Payment?
What Are the Benefits of a 20% Down Payment? If you’re thinking of buying a home this year, you may be wondering how much money you need to come up with for your down payment. Many people may think it’s 20% of the loan to secure a mortgage. While there are plenty of...
Are There Going to Be More Homes to Buy This Year?
Are There Going to Be More Homes to Buy This Year?If you’re looking for a home to purchase right now and having trouble finding one, you’re not alone. At a time like this when there are so few houses for sale, it’s normal to wonder if you’ll actually find one to buy....
Question ? How Much Leverage Do Today’s House Sellers Have?
How Much Leverage Do Today’s House Sellers Have? The housing market has been scorching hot over the last twelve months. Buyers and their high demand have far outnumbered sellers and a short supply of houses. According to the latest Existing Home Sales Report from...
Where Have All the Houses Gone?
Where Have All the Houses Gone?In today’s housing market, it seems harder than ever to find a home to buy. Before the health crisis hit us a year ago, there was already a shortage of homes for sale. When many homeowners delayed their plans to sell at the same time...
Homeowners Today Have Tremendous Equity
You may have more home equity today than you realize. Let's connect to plan how you can leverage that equity in your next move.
3 Ways Home Equity Can Have a Major Impact on Your Life
3 Ways Home Equity Can Have a Major Impact on Your Life There have been a lot of headlines reporting on how homeowner equity (the difference between the current market value of your home and the amount you owe on your mortgage) has dramatically increased over the past...
Why It’s Easy to Fall in Love with Homeownership
Why It’s Easy to Fall in Love with Homeownership Some Highlights Homeownership provides comfort, stability, and security, and it makes you feel more connected to your community. Your home is something to be proud of and is uniquely yours, so you can customize it to...
4 Ways Your Agent Will Steal Your Heart
What Record-Low Housing Inventory Means for You
What Record-Low Housing Inventory Means for You The real estate market is expected to do very well in 2021, with mortgage rates that are hovering at historic lows and forecasted by experts to remain favorable throughout the year. One challenge to the housing industry,...
What Happens When Homeowners Leave Their Forbearance Plans?
What Happens When Homeowners Leave Their Forbearance Plans? Contact us for help! According to the latest report from Black Knight, Inc., a well-respected provider of data and analytics for mortgage companies, 6.48 million households have entered a forbearance plan as...
3 TV home buying myths busted
3 TV home buying myths busted
Time Capsule Stamp Review 1-21
2021 Time Capsule as of 1-21-21I am posting this for future reference. JobsThe current U.S. unemployment rate is 6.7% for December 2020, the Bureau of Labor Statistics (BLS) said in its monthly report on Friday. The rate is close...
Why Selling Your House on Your Own in 2021 Is a Mistake
Why Selling Your House on Your Own in 2021 Is a Mistake There are many benefits to working with a real estate professional when selling your house. During challenging times, like what we face today, it becomes even more important to have an expert you trust to help...
January Single Family Inventory Salt Lake County (Active)
January Single Family Inventory Salt Lake County (Active)
3 Must-Do’s When Selling Your House This Year
3 Must-Do’s When Selling Your House This YearIt’s exciting to put a house on the market and to think about making new memories in new spaces. However, despite the anticipation of what’s to come, we can still have deep sentimental attachments to the home we’re leaving...
Expert Forecast on the 2021 Housing Market
Here’s to a Wonderful 2021!
Here’s to a Wonderful 2021!
Thank You for All Your Support
Thank You for All Your Support We Cherish Your Relationships With Us!You helped us make a great 2020!
The Difference a Year Makes for Homeownership
The Difference a Year Makes for HomeownershipOver the past year, mortgage rates have fallen more than a full percentage point, hitting a new historic low 15 times. This is a great driver for homeownership, as today’s low rates provide consumers with some significant...
Holidays Aren’t Stopping Homebuyers
The Holidays Aren’t Stopping Homebuyers This Year Black Friday and Cyber Monday are behind us, yet finding the perfect holiday gifts for friends and family is certainly still top of mind for many right now. This year, there’s another type of buyer that’s very active...
Utah Forbearance Problems
Are Home Prices Headed Toward Bubble Territory
Are Home Prices Headed Toward Bubble Territory?Talk of a housing bubble is beginning to crop up as home prices have appreciated at a rapid pace this year. This is understandable since the appreciation of residential real estate is...
Homeownership can be yours
The Path to Homeownership Some Highlights If you’re thinking of buying a home and not sure where to start, you’re not alone. Here’s a map with 10 simple steps to follow in the homebuying process. Let’s connect today to discuss the specific steps along the way in our...
Shop for Homes in a Virtual World
A New Way to Shop for Homes in a Virtual WorldIn a year when we’re learning to do so much remotely, homebuying is no exception. From going to work to attending school, grocery shopping, and even seeing our doctors online, digital practices have changed the way we...
Thank You
Thank You for Your Support!
It Pays to Sell with a Real Estate Agent
It Pays to Sell with a Real Estate Agent Some HighlightsToday, it’s more important than ever to have an expert you trust to guide you as you sell your house.From your safety throughout the process to the complexity of negotiating...
Should I Renovate My House Before I Sell It?
Should I Renovate My House Before I Sell It? Some HighlightsIn today’s hyper-competitive market, buyers are often willing to overlook cosmetic or minor repair needs if it means snagging a home in their price range.With so few houses available for sale today, you may...
Don’t Fear the Real Estate Market
Don't Fear the Real Estate Market October 29, 2020 Fear should never be a factor when navigating the housing market. Whether you're buying or selling a home this fall, let's connect to make sure you're empowered to take the safest path.
Why Selling Your House Before Next Spring Is Key
Why Selling Your House Before Next Spring Is Key Today's housing market is empowering homeowners with the control they want when selling their house, but as home inventory begins to rise, this fair weather won't last forever. Let's connect to start the process of...
How to Prepare for a Bidding War
How to Prepare for a Bidding War Some HighlightsWith so few houses available on the market today, being ready for a bidding war is essential for prospective homebuyers.From pre-approval to making your best offer, here are three tips to make sure you can act quickly...
2020 Housing Market on Track to Beat Last Year’s Success
Housing Market on Track to Beat Last Year’s SuccessBack in March, as the nation’s economy was shut down because of the coronavirus, many were predicting the real estate market would face a major collapse. Some forecasts called for a 15-20% decline in transactions....
Why Pricing Your Home Right Matters This Fall
Why Pricing Your Home Right Matters This Fall Some HighlightsAs a seller today, you may think pricing your home on the high end will result in a higher final sale price, but the opposite is actually true.To sell your home quickly and for the best possible price, you...
Ready to Sell? Homebuyer Traffic Is on the Rise.
Ready to Sell? Homebuyer Traffic Is on the Rise. Buyer activity is continuing to rise. Let's connect to discuss why selling your house now could get you the price and terms you've been waiting for.
Two New Surveys Indicate Urban to Suburban Lean
Two New Surveys Indicate Urban to Suburban LeanThere has been much talk around the possibility that Americans are feeling less enamored with the benefits of living in a large city and now may be longing for the open spaces that suburban and rural areas provide.In a...
Why You Need Expert Guidance in a Bidding War
The 2020 Homebuyer Wish List
The 2020 Homebuyer Wish List Some HighlightsThe word “home” is taking on a whole new meaning this year, and buyers are starting to look for new features as they re-think their needs and what’s truly possible.From more outdoor space to virtual classrooms for their...
It’s Not Just About the Price of the Home
It’s Not Just About the Price of the HomeWhen most of us begin searching for a home, we naturally start by looking at the price. It’s important, however, to closely consider what else impacts the purchase. It’s not just the price of the house that matters, but the...
Salt Lake Home Sales Climb to Record High in July 2020
Salt Lake Home Sales Climb to Record High in July Salt Lake County home sales reached an all-time high in July at 2,093 homes sold, 15 percent higher than July 2019. It's the first time monthly sales surpassed 2,000 closings since the MLS began keeping records....
Utah Real Estate Tip – there are no “easy” transactions.
Real Estate Legal Tip - there are no "easy" transactions.Some people say that when the market is hot, "I can sell my home myself," or "I don't need an experienced agent because it costs money," or "how hard can it be?"Curtis Bullock From the Salt Lake Board of...
The Cost of Renting Vs. Buying a Home
The Cost of Renting Vs. Buying a HomeSome HighlightsThe percentage of income needed to afford a median-priced home today is declining, while that for renting is on the rise.This is making buying a home an increasingly attractive option for many people, especially with...
Forbearance Numbers Are Lower Than Experts Forecasted
Forbearances have stayed well under the rate experts initially forecasted. Let's connect if you have questions about your options.
Top Reasons People Are Moving This Year In 2020
The Top Reasons People Are Moving This YearToday, Americans are moving for a variety of different reasons. The current health crisis has truly re-shaped our lifestyles and our needs. Spending extra time where we currently live is enabling many families to re-evaluate...
Ask a Pro About Buying a Home
Ask a Pro About Buying a Home Some HighlightsAccording to trending data, searches for key real estate topics are skyrocketing online.Clearly, lots of people have questions about buying a home, and other topics related to the process.Working with a trusted real estate...
Home Has a Whole New Meaning Today
Forbearance Numbers Are Lower than Expected
Forbearance Numbers Are Lower than ExpectedOriginally, some housing industry analysts were concerned that the mortgage forbearance program (which allows families to delay payments to a later date) could lead to an increase in foreclosures when forbearances end. Some...
Are you Thinking About Selling? Sellers Are Returning to the Housing Market
Sellers Are Returning to the Housing MarketGet Your PEAR Report Today! (Professional Equity Assessment Report)In today’s housing market, it can be a big challenge for buyers to find homes to purchase, as the number of houses for sale is far below the current demand....
The Beginning of an Economic Recovery In Utah
The Beginning of an Economic RecoveryThe news these days seems to have a mix of highs and lows. We may hear that an economic recovery is starting, but we’ve also seen some of the worst economic data in the history of our country. The challenge today is to understand...
Mortgage Rates and Payments by Each Decade
Mortgage Rates & Payments by DecadeSome HighlightsSometimes it helps to see the dollars and cents you’ll save when you purchase a home while mortgage rates are low.Today’s low rates mean it’s less expensive to borrow money, so the savings over the life of your...
Housing by the Numbers by Utah Realty
Homes Are More Affordable Right Now Than They Have Been in Years
Homes Are More Affordable Right Now Than They Have Been in YearsToday, home prices are appreciating. When we hear prices are going up, it’s normal to think a home will cost more as the trend continues. The way the housing market is positioned today, however, low...
Why Foreclosures Won’t Crush the Housing Market Next Year
Why Foreclosures Won’t Crush the Housing Market Next YearWith the strength of the current housing market growing every day and more Americans returning to work, a faster-than-expected recovery in the housing sector is already well...
The Latest Unemployment Report: Slow and Steady Improvement
The Latest Unemployment Report: Slow and Steady ImprovementLast Friday, the Bureau of Labor Statistics (BLS) released its latest Employment Situation Summary. Going into the release, the expert consensus was for 1.58 million jobs to be added in July, and for the...
2020 Homebuyer Preferences
2020 Homebuyer PreferencesSome HighlightsA recent study from HarrisX shows the current health crisis isn’t slowing down today’s homebuyers.Many buyers are accelerating their timelines to take advantage of low mortgage rates, and staying home has enabled some to save...
Expert Reactions to the 2020 Housing Market Recovery
America Has a Surprising New Favorite Room in the House
Photo Copyright Marty Gale The family room has long been the favorite room in the house—it’s where homeowners get to spend quality time with other family members. However, as the significant increase in time spent at home during the pandemic has changed preferences,...
How Is Remote Work Changing Homebuyer Needs?
How Is Remote Work Changing Homebuyer Needs?With more companies figuring out how to efficiently and effectively enable their employees to work remotely (and for longer than most of us initially expected), homeowners throughout the country are re-evaluating their...
Why Homeowners Have Great Selling Power Today
Why Homeowners Have Great Selling Power TodayWe’re sitting in an optimal moment in time for homeowners who are ready to sell their houses and make a move this year. Today’s homeowners are, on average, staying in their...
Today’s Buyers Are Serious about Purchasing a Home
Today’s Buyers Are Serious about Purchasing a HomeToday’s homebuyers are not just talking about their plans, they’re actively engaged in the buying process – and they’re serious about it. A recent report by the National Association of Home Builders (NAHB)...
Home Sales Surging This Summer
Experts Weigh-In on the Remarkable Strength of the Housing Market
Experts Weigh-In on the Remarkable Strength of the Housing MarketAmerica has faced its share of challenges in 2020. A once-in-a-lifetime pandemic, a financial crisis leaving millions still unemployed, and an upcoming presidential election that may prove to be one of...
Homeownership Rate Continues to Rise in 2020
Homeownership Rate Continues to Rise in 2020So far, it’s been quite a ride this year, and our nation has truly seen its fair share of hurdles. From COVID-19 to record unemployment and then the resulting recession, just to name a few, the second quarter of 2020 has had...
Moving America Forward
Kids Go Back to School and Life goes on Says a group of Prominent Physicians