Consumers More Optimistic About The Housing Market Now Than A Year Ago

In spite of a somewhat sluggish start to the spring housing market, consumers are more optimistic about the housing market now than they were this time last year, according to the results of the Fannie Mae National Housing Survey results just released.    Survey results show that 38% of the respondents think now is a good time to sell a home which, while low, is still almost 50% higher than a year ago when only 26% felt it was.   Consumers are also feeling more optimistic about the prospects of obtaining  a home loan with 52% saying they believe it would be easy to get a mortgage, an increase from 47% that felt that way a year ago.

Other highlights of the survey:

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  •  The percentage of consumers that feel home prices will go up in the next 12 months dropped slightly to 48%,
  • Only 5% feel home prices will do down in the next 12 months.
  • More than half (54%) of the survey respondents feel mortgage rates will increase in the next 12 months and only 3% think the rates will go down.
  • Sixty-nine percent feel now is a good time to buy a home, this is down just a little form last month.
  • The average 12-month home price change expectation decreased from last month, to 2.7 percent.

 

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