The Homebuyer View on Home Prices

first_img Share Save According to the latest data from the Federal Reserve Bank of New York, consumer home price change expectations remain at their lowest level. The March 2019 Survey of Consumer Expectations reveals that the median home price change expectations remained steady at 3.0 percent for the fourth consecutive month.The report also indicates consumer access to credit has increased, and consumers expect this increase to continue. The survey reveals that 19.2 percent of consumers, up from 19 percent month over month, though the average perceived probability of missing a minimum debt payment over the next three months increased 0.7 percentage points to 11.6 percent. The Survey notes that this is still below the 12-month trailing average of 12.0 percent.Despite the flat outlook from consumers, lenders optimism has gone up, according to the Q1 2019 Mortgage Lender Sentiment Survey from Fannie Mae.”Lenders appear less pessimistic regarding mortgage demand expectations; thus their profit margin outlook over the next three months is also slightly improved,” said Doug Duncan, SVP and Chief Economist at Fannie Mae. “While the results seem to portray the gloomiest picture of purchase mortgage demand during the prior three months in the survey’s five-year history, the net share of lenders expecting rising demand over the next three months exceeded the level recorded in the same quarter last year. Lenders’ view of the refinance market was somewhat rosier, as both recent and expected demand improved to the best showing in two years, helping to support lenders’ improved profit margin outlook.”According to the survey, the net share of lenders reporting purchase loan demand growth across all loan types reached a survey low, but demand growth expectations for the next three months has improved. Meanwhile, the refinance mortgage demand saw a significant increase. The net share of lenders to report demand growth over the prior three months hit its highest number in two years. Lenders have also reported easing credit standards across all loan types The Best Markets For Residential Property Investors 2 days ago About Author: Seth Welborn Subscribe in Daily Dose, Featured, Market Studies, News The Week Ahead: Nearing the Forbearance Exit 2 days ago The Homebuyer View on Home Prices Sign up for DS News Daily Previous: Jennifer Folk Joins Planet Home Lending Next: The Impact of Delinquent Property Taxes Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Demand Propels Home Prices Upward 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago April 12, 2019 1,104 Views The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Home Prices Homebuyers Inflation sellers Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Home Prices Homebuyers Inflation sellers 2019-04-12 Seth Welborn Home / Daily Dose / The Homebuyer View on Home Priceslast_img read more