A majority of Americans believe home prices will go up over the next 12 months, but whether now is a good time to buy or sell is still up for debate, according to a Fannie Mae survey of household decision makers released on Wednesday.
Fifty-eight percent of Americans believe home prices nationwide will increase in 2018, according to the monthly Fannie Mae Home Purchase Sentiment Index (HPSI), which measures housing market perceptions and attitudes.
Overall, the index rose 3.7 points in January to 89.5, a reversal from December, suggesting Americans are more optimistic about the housing market.
“HPSI rebounded from last month’s dip to a new survey high in January, in large part due to the spike in consumers’ net expectations that home prices will increase over the next year,” said Doug Duncan, senior vice president and chief economist at Fannie Mae, in a statement.
“Results may continue to fluctuate over the coming months as consumers sort out the implications of the new...