Americans started feeling better about the housing market as it headed into the summer season, according to the latest survey results from Fannie Mae’s monthly Home Purchase Sentiment Index. The percentage of survey respondents who said it’s a good time to buy a home rebounded in June, with a 5 percent increase over the month before. The share who say it’s a good time to sell also improved, rising 2 percent from May. Mark Palim, Fannie Mae’s vice president and deputy chief economist, says affordability remains a concern, despite the optimistic turn. “Affordability concerns remain the primary driver of consumer housing sentiment, even as the topline findings from our monthly survey showed a modest uptick in optimism on both home buying and home selling conditions,” Palim said. “If mortgage rates decline through the end of the year, as we currently forecast, we do think home sales activity will pick up, but progress on that front is likely to be slow due to the ongoing imbalance between supply and demand.” (source)
