The nationwide gain in income has fed Americans' optimism about housing, which could lead to a more active housing market this year, Fannie Mae said in a new report.
The number of consumers who said their household income had significantly increased rose to nearly an all-time high, Fannie Mae said in its
Additionally, the proportion of consumers in the Fannie Mae survey who said now is a good time to sell a home rose to an all-time high in May. Fannie Mae generated the results from a telephone poll of 1,000 U.S. residents.
"Things are looking up for housing," said Doug Duncan, Fannie Mae's chief economist. The two factors, when to sell a home and income growth, are considered "key drivers for the performance on the housing market."
Fannie Mae has forecast moderate improvement in the housing market this year.
