WASHINGTON – Aug. 8, 2014 – Americans attitudes toward the housing market remain mixed, although a steady improvement in their personal financial outlook may bode well for housing in the coming months, according to Fannie Maes July 2014 National Housing Survey. The continued cautious sentiment expressed across the range of consumer indicators this month gives weight to our view that the first phase of the housing recovery is decelerating, and 2014 will be a year of mixed housing outcomes with home prices rising more slowly and home sales falling slightly, says Doug Duncan, senior vice president and chief economist at Fannie Mae. Duncan says hes always believed that a robust housing recovery relies on strong and sustained full-time job and income growth, and recent data indicating the creation of more than 200,000 jobs over each of the last six months, combined with … the share of consumers reporting significantly higher household income … does provide some reason for optimism. If these trends continue, they could lead to some upside in housing in 2015. Survey highlights Homeownership and renting The share of respondents who say home prices will go up in the next 12 months fell to 42 percent. The share who say home prices will go down also decreased to 8 percent. The share of respondents who say mortgage rates will go up in the next 12 months fell by one percentage point to 54 percent. Those who say its a good time to buy a house fell to 67 percent, and those who say it is a good time to sell a house rose to 43 percent, tying the survey high. The average 12-month rental price change expectation decreased to 3.8 percent. The percentage of respondents who expect home rental prices to go up fell to 51 percent. Half of respondents thought it would be difficult for them to get a home mortgage today. The share who say they would buy if they were going to move fell slightly to 67 percent. The economy and household finances The percentage of respondents who expect their personal financial situation to get better over the next 12 months dropped to 40 percent. The share of respondents who say their household income is significantly higher than it was 12 months ago increased by 4 percentage points to 28 percent – a survey high. The share of respondents who say their household expenses are significantly higher than they were 12 months ago fell 2 percentage points to 36 percent. © 2014 Florida Realtors® Related Topics: Trends Media CenterAdvertisingPrivacy PolicyCopyright NoticeTerms of UseFlorida Realtors® Headquarters - Orlando: (407) 438-1400 Office of Public Policy - Tallahassee: (850) 224-1400 © 2014 Florida Realtors®
Posted on: Fri, 08 Aug 2014 19:31:22 +0000
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