A higher share of respondents considered it a good time to buy a home in the latest results of Fannie Mae's National Housing Survey, with renters in particular indicating that they thought a transition to homeownership would be a wise move. A record share of respondents also considered it a good time to sell a home, although a growing number indicate that they don't expect home price growth to continue.

Fannie Mae's Home Purchase Sentiment Index for September stood at 88.3, tying an all-time high set in June. This figure is based on responses to whether respondents think it is a good time to buy or sell a home, expected changes to home prices and mortgage rates, perceived job security, and increases or decreases in household income in the past year.

Fifty-nine percent of respondents said they thought it was a good time to buy a home. This reversed a recent downward trend in recent months, rising 4 percentage points from August but falling 1 percentage point below September 2016. Thirty-one percent thought it was a bad time to buy a home, falling 6 percentage points from the previous month to match the share from September 2016.

Sixty-seven percent of respondents said they would buy a home if they were to move, up 1 percentage point from August and 3 percentage points from September 2016. Twenty-seven percent said they would rent, falling from 29 percent in the previous month and 31 percent in the previous year.

Only 3 percent of respondents said they think home rental prices will go down in the next 12 months, unchanged from the previous year but up from 2 percent in August. Fifty-seven percent said they think home rental prices will go up, down 3 percentage points from the previous month and up 3 percentage points from the previous year. On average, respondents said they expect rental prices to increase by 4.4 percent in the next 12 months – down from 4.6 percent in August, but up from 3.8 percent in September 2016.

Fifty-five percent of respondents said they thought it would be easy for them to get a mortgage, matching the previous month's share and climbing 3 percentage points from September 2016. Forty-two percent said they thought it would be difficult to get a mortgage, falling 3 percentage points from the previous year and staying even with the previous two months.

Fifty-three percent of respondents said they thought mortgage rates will go up in the next 12 months, up 2 percentage points from August and 4 percentage points from September 2016. Six percent said they expect rates to fall, unchanged from the previous two months and up 1 percentage point from September 2016.

A survey high of 64 percent of respondents considered it a good time to sell a home, up 2 percentage points from the previous month and 11 percentage points from the previous year. Twenty-six percent thought it was a bad time to sell, even with August but down 12 percentage points from the previous year.

A majority of respondents believe home prices will continue to climb in the next year, although an increasing share expect that prices will start to slide. Half of all respondents said they think prices will increase in the next 12 months, down 6 percentage points from the previous month but up 7 percentage points from the previous year. Ten percent said they think prices will go down, up 4 percentage points from August and 1 percentage point from September 2016.

On average, respondents said they expect home prices to grow by 2.7 percent over the next 12 months. This was the second month in a row where expected appreciation has decreased, falling from 3.7 percent in July and 3.3 percent in August; however, it was still up from 2 percent in September 2016.

"Perceptions of easing inventory helped boost the net share saying that now is a good time to buy, which is consistent with less bullish home price appreciation sentiment during the month," said Doug Duncan, senior vice president and chief economist at Fannie Mae. "Overall, we believe that the devastating impacts of the hurricanes will likely weigh on home sales in coming months, posing downside risks for our forecast, which already calls for only a modest gain in home sales this year."

Eighty-seven percent of respondents said they are not worried about losing their job in the next 12 months, the same share as the previous two months and up 2 percentage points from the previous year. Twelve percent said they were worried about becoming unemployed, down 3 percentage points from September 2016 and 1 percentage point from August.

Twenty-seven percent said their household income is significantly higher than it was 12 months ago, up 1 percentage point from the previous month and 2 percentage points from the previous year. Twelve percent said their income has decreased significantly, up 2 percentage points from August but down 1 percentage point from September 2016.

Half of all respondents said they expect their personal financial situation to improve in the next 12 months, up 3 percentage points from the previous month and 9 percentage points from the previous year. The share of respondents expecting their financial situation to worsen fell from 11 percent in September 2016 and 12 percent in August to 9 percent in September.

Despite these financial expectations, respondents were slightly more pessimistic on the United States economy than the previous month. Forty-seven percent said they think the economy is on the right track, up 12 percentage points from the previous year but down 2 percentage points from the previous month. Forty-one percent said they think the economy is on the wrong track, down 16 percentage points from September 2016 but up 3 percentage points from August.

Fannie Mae's National Housing Survey has been issued each month since June 2010. The survey polls approximately 1,000 Americans via telephone interview to gauge their opinions toward the housing market and economy.