Consumers’ optimism toward the housing market showed a slight rebound last month, with more people now saying it’s a good time to buy or sell a home, according to Fannie Mae’s September 2014 National Housing Survey, based on about 1,000 Americans’ attitudes on the housing market.

SURVEY HIGHLIGHTS

The average 12-month home price change expectation rose to 2.2 percent.
The share of respondents who say home prices will go up in the next 12 months rose to 45 percent. The share who say home prices will go down decreased to 8 percent.
The share of respondents who say mortgage rates will go up in the next 12 months fell by five percentage points to 45 percent.
Those who say it is a good time to buy a house rose to 68 percent. Those who say it is a good time to sell also increased—to 39 percent.
The average 12-month rental price change expectation fell to 3.2 percent.
The percentage of respondents who expect home rental prices to go up in the next 12 months increased to 55 percent.
The share of respondents who think it would be difficult to get a home mortgage today decreased by one percentage point.
The share who say they would buy if they were going to move rose to 66 percent, while the share who would rent decreased to 28 percent.

“The September National Housing Survey shows a slight recovery in consumer housing sentiment after a two-month setback, bringing us back to the modestly positive trend we’ve seen over the last year,” says Doug Duncan, senior vice president and chief economist at Fannie Mae. “It might be too late to save this year’s home sales from posting the first decline in five years. However, the return to an upward trend in housing sentiment, combined with this month’s positive news on the jobs front, suggests that a broad-based, albeit measured, housing recovery is on track to resume in 2015. The results of the past few months show that consumer optimism remains cautious and somewhat volatile, and we’ll likely continue to see bumps on the housing recovery path reflected in our survey results.”

Courtesy: Fanniemae

About Vijaianand Thirnageswaram

I am a Proud Realtor of Texas, trying to guide and help clients to find their dream home and educate them to buy them for right price. I am also a Candidate for CFP who has more financial knowledge which allows me share and educate clients in any financial decision making process.

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