Survey Shows Increasingly Positive Views On Housing

Fannie Mae's September national housing survey, which is conducted by interviewing 1,000 Americans, is continuing to portray a more positive public outlook on housing. According to this survey, the views have remained positive for eleven straight months now. Also, the amount of people who are expecting home prices to fall has reached 11%. That number of 11% is an all time low since the survey was initiated in 2010. The expectations of the respondents are for home prices to INCREASE 1.5 percent over the next year.

“Consumers are showing increasing faith in the nascent housing recovery,” says Doug Duncan, Fannie Mae’s chief economist.

Next question, is now a good time to sell? Buy? According to the survey, approximately 20% say yes, now is a good time to sell, which is a record high for the history of this survey. As for the question of is now a good time to buy, a much higher 69% say they believe now is a very good time to buy. On another note, not only is their an increasingly positive view for housing, but also for the economy overall. 33% said the economy was on the right track last month, but this month that number jumped to 41%. Although that is a good sign, there are still 53% saying the economy is on the wrong track. Obviously, something needs to be done in terms of fixing the economy, which has been a huge topic of discussion during the debates, and will continue to be on Tuesday with the second Presidential Debate.

Source: realtormag