Fannie Mae Survey Says Market Improving

The real estate market is continuing to improve

Evidence shows that foreclosures are continuing to decrease all across the nation. In January Fannie Mae did a survey to discover the National attitude regarding housing, the market and specifically buying and selling real estate.

While December numbers showed a slight rise in foreclosures and short sales, employment gained ground.  Confidence is growing in the consumer market. The majority of Americans feel now is the time to buy and to sell …

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Sixty-seven percent of American adults responding to Fannie Mae’s January National Housing Survey said now is a good time to buy a home, the company reported Monday, while 44 percent said now is a good time to sell. Both figures are up from December, when positive responses were at 64 percent and 40 percent, respectively.

Doug Duncan, SVP and chief economist at Fannie Mae, said the country’s current economic momentum played a role in January’s more upbeat views of the housing market.

“Consumers are as positive about their personal finances at the start of 2015 as they have been since we launched the National Housing Survey in 2010, and this optimism seems to be spilling over into housing market attitudes,” Duncan said. “These results are in line with lender optimism about future growth in their mortgage origination business, as shown in our Mortgage Lender Sentiment Survey.”

The share of respondents in Fannie Mae’s survey who said their household income is “significantly higher” than it was a year ago climbed 4 percentage points to a survey high of 29 percent, the company reported. Looking ahead, 48 percent said they expect their finances to improve in the next year, also a survey high.Housing Market Improving

Overall, 44 percent of Americans said they believe the economy is on the right track, an increase of 3 percentage points and only a few points less than those saying the economy is headed the wrong way (49 percent).

That optimism spurred 66 percent of those surveyed to say they would buy a home if they had to move, a jump from 61 percent at the end of 2015. The share of those who would rent, meanwhile, slipped after three months of gains, falling to 29 percent.

“Overall, these are good signs to start off 2015 and are consistent with our expectation that strengthening employment and economic activity will boost the speed of the housing recovery,” Duncan said.

One thing that is sure to bolster this new confidence, is the spring market. Locally we are seeing an increase in listings and buyers, a relief after the severe slow down during November, December and January.

Tory Barringer, DS News

Americans’ Economic Optimism Spills Over into Housing

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