Despite concern about personal finances, an overwhelming majority of people feel confident about housing in 2021 according to the latest research from Freddie Mac (FM).
2021 is supposed to be a great year for the economy and most of the respondents think so as well. 72% of currently employed respondents were confident they will maintain the same level of income through the first half of this year.
Housing continues to be a bright spot for respondents as 66% said they were confident in the housing sector up from 60% at the end of 2020.
- PURCHASE: 34% of renters said they were looking to buy a home in 2021.
- REFI: Despite a jump in mortgage rates nearly a third of homeowners indicated they were likely to refinance their homes within the first six months of 2021.
Unfortunately, it wasn’t all good news. Despite being down from the high we saw last year, renters and homeowners are still concerned about making housing payments.
- Renter concern dropped to 63% in February down from 67% in January.
- Homeowner concern dropped to 41% in February down from 45% in January
Donna Corley, executive vice president and head of Single-Family Business at Freddie Mac, said in a statement, “While the housing market appears to be healthy and has recovered faster than the rest of the economy, many segments of the population are still struggling.