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Poll shows American’s expect home prices to decline in next 12 months

Dennis Norman, St Louis REALTOR - Fannie Mae National Housing SurveyThe Fannie Mae National Housing Survey for September shows consumers in the U.S. remain someone pessimistic about home prices, however over two-thirds (68 percent) of American’s surveyed said they thought now was a good time to buy a home and 63 percent said if they were going to move now they would buy a home.

Highlights from the survey:

  • American’s feel home prices will decline an average of 1.1 percent in the coming 12 months.
    • Fifty-five percent say home prices will stay the same in the coming 12 months.
    • Twenty-five percent say home prices will decline in the coming 12 months.
    • Eighteen percent say home prices will increase in the coming 12 months.
  • Fifty-one percent say interest rates will stay the same.
    • Thirty-three percent say interest rates will go up
    • Eleven percent think interest rates will go down in the next 12 months.
  • Sixty-Eight percent think now is a good time to buy a home
    • Ten percent think now is a good time to sell a home
  • Sixty-three percent say they would buy if they were going to move
    • Thirty two percent say they would rent
  • Seventy-seven percent think the economy is on the wrong track
    • Sixteen percent think the economy is on the right track

 

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