Fannie Mae Survey: ‘Rising Optimism For The Housing Market’

Posted by Orb Staff on May 08, 2012 No Comments
Categories : Residential Mortgage

According to the results of Fannie Mae's April 2012 National Housing Survey, Americans' attitudes about homeownership, the economy and personal finances ‘continue to move incrementally in a positive direction.’

‘This month's survey shows a continued gradual improvement in consumer sentiment and outlook for home prices,’ says Doug Duncan, vice president and chief economist of Fannie Mae. ‘After flat-lining at depressed levels for over a year, a growing share of consumers indicate that it is a good time to sell, suggesting rising optimism for the housing market.’

On average, Americans expect home prices to increase 1.3% over the next year, and the percentage of Americans who say it is a good time to sell their home continued to rise to 15% in April (up from low, flat levels during 2011). In turn, confidence in the economy's direction rose to a survey all-time high in April, hitting 37%.

Another positive trend, according to Fannie Mae, is the increased share of those who reported their income as ‘significantly higher’ from 12 months ago, which is now at the highest level recorded over the past year and seven percentage points higher than those who reported income as ‘significantly lower.’

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