Have you been watching the recent real estate news from national news sources like Gallup, CNBC, and Fannie Mae?
For a few months now, we at UBG have been analyzing and reporting on the local real estate market from the perspective of supply and demand. Inventory is shrinking and rates are rising, right along with your home’s appreciating equity.
What caught my interest recently were stories done by Gallup Analytics, CNBC and Fannie Mae regarding what Americans think of real estate and homeownership as an investment.
Gallup polling and analytic services, April 18th
American’s view real estate as
Real estate 34%
Savings account 15%
Gallup polling and analytic services, May 7th
Future of Home Prices
% who expect local home prices to increase 64%
Remain the same 26%
Fannie Mae April Home Buying Confidence I
“Consumer confidence in housing jumped to its highest level on record in April”
“Consumer attitudes remain resilient going into the spring/summer home buying season,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “However, the upward trend in the good-time-to-sell share seen since last spring has done little to release more for-sale inventory. The tightest supply in decades, combined with rising mortgage rates from historically low levels, will likely remain a hurdle for mobility and a persistent headwind for home sales.”
What do these national trends mean to us, here in the greater Phoenix area? It appears that owners and buyers are aware of our current, tight market conditions and yet continue to feel both positive about and confident in their local real estate market as a good investment. In fact, recent national polling says that Real Estate is the “#1 place” Americans want to invest their money. What Gallup/Fannie Mae data suggest, validated by the local market data we at UBG have been reporting for some time, is that it’s a great time to be buying and selling, and, it’s likely going to remain that way for the foreseeable future.
If you want more info or need advice on how you might take advantage of this market, please reach out to your Real Estate Professional, they are your personal experts, and would be happy to guide you!
Thanks for your attention, and, good house hunting!