Consumers are growing more optimistic about the housing market

Published On Oct 7, 2024, 1:06 PM

Consumers are showing increased optimism about the housing market, with the Fannie Mae Home Purchase Sentiment Index reaching its highest level in over two years at 73.9. Many expect mortgage rates to decrease in the next year. Currently, only 19% believe it's a good time to buy a home, with 65% considering it a good time to sell. Despite concern over high home prices, 39% anticipate that home prices will continue to rise in the coming year.

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Given the rising consumer sentiment about the housing market and expectations of lower mortgage rates, U.S. real estate sectors may benefit. The iShares U.S. Real Estate ETF (IYR) could see positive movement as more buyers enter the market, drawn by potential future lower borrowing costs.

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