Fannie Mae released the results of their May 2013 National Housing Survey, showing Americans’ confidence in the housing market has increased sharply. Among the highlights of the survey:

The average 12-month home price change expectation jumped to 3.9 percent, the highest level since the survey’s inception.

The share of people who say home prices will go up in the next 12 months hit a survey high of 55 percent, while those who say home prices will go down dropped to 7 percent, the lowest level since the survey’s inception.

The share of respondents who say mortgage rates will go up increased 3 percentage points to 46 percent, while those who say rates will go down hit a survey low of 5 percent.

At 76 percent and 40 percent, respectively, the shares who say it is a good time to buy a house and who say it is a good time to sell a house both reached survey highs.

The average 12-month rental price change expectation dropped to 3.4 percent, the lowest level since September 2012.

Holding steady from last month, 48 percent of those surveyed say home rental prices will go up in the next 12 months.

For the complete news release, click here.

If you are looking to make the leap from renter to homeowner, time is ticking. Rising sales prices and interest rates are imminent, while rents continue to push upward as well. Your new home in one of our Dragas condominium communities can be ready this summer. What are you waiting for? Visit dragas.com to learn more about how affordable home ownership can be.