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Forty-one percent of survey respondents think home prices will increase; up from thirty percent a year ago

Saint Louis Realtor, Dennis Normanst-louis-real-estate-realtor-dennis-normanForty-one percent of the respondents to the Fannie Mae National Housing Survey for January 2013 said they expect home prices to rise in the next 12 months which is down slightly from 43 percent last month but up significantly from a year ago when only 30 percent felt home prices would rise.   Ten percent of the respondents feel home prices will drop in the coming year and 45 percent said they feel prices will remain the same.

Source: Fannie Mae Housing Survey January 2013

SURVEY HIGHLIGHTS

  • The average 12-month home price change expectation fell slightly from last month’s survey high to 2.4 percent.
  • At 41 percent, the share of those surveyed who believe home prices will go up in the next 12 months decreased by 2 percentage points from December’s survey high, while the share who believe home prices will go down returned to the survey low of 10 percent.
  • The percentage of those surveyed who think mortgage rates will go up decreased by 3 percentage points to 41 percent, while those who think they will go down dipped slightly to 7 percent.
  • Twenty-three percent of respondents say it is a good time to sell a house, up by 12 percentage points year-over-year.
  • The percentage who expect their personal financial situation to get better over the next 12 months rose by 3 percentage points to 43 percent.
  • Twenty-three percent of respondents say their household income is significantly higher than it was 12 months ago, holding steady from last month.
  • Thirty-eight percent reported significantly higher household expenses compared to 12 months ago, the highest level since December 2011.
  • The percentage who are concerned they will lose their job in the next 12 months declined 1 percentage point to 19 percent, a survey low.

 

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