Sentimental Consumers

July 26, 2017 by Meg Decker

The public has a pretty upbeat outlook on real estate and their personal finances. According to the June Home Purchase Sentiment Index (HPSI), people feel pretty good about buying and selling homes, the ability to qualify for mortgage financing and their incomes. The results mirror what we’re seeing in urban Minneapolis and the Twin Cities Metro market as well. Here are highlights from what consumers had to say about different topics:
 

Real Estate
Good time to buy a home
June 2017 – 62%
Average last 12 months: 61.5%
 
Good time to sell a home
June 2017 – 64%
Average last 12 months: 55.75%
 

Ability to Get a Loan
• 59% believe it would be easy to get a mortgage today
• 37% are concerned getting a mortgage would be difficult
 

Personal Finances
• 28% say their income is significantly higher than it was a year ago, compared to 11% who said the opposite
• 49% expect their personal financial situations will improve over the next 12 months and 37% expect no change
• 83% are not concerned about losing their job
 

It’s interesting to see what people are thinking and feeling nationwide. How are you feeling about real estate, the ability to get financing and personal finances? The urban Minneapolis and Twin Cities metro markets have been brisk for lofts, condos and single family homes and our lending partner LeaderOne will tell you interest rates are still quite favorable. We’re already more than halfway through 2017…what’s on your mind for the rest of this year – and next? Consumer sentiment in the news is interesting but very general; current, local information prepared especially for you is what really matters. We’d love to answer any questions you have about the market, home values and your plans for the near and long-term future.

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