Consumers Still Confident Home Values Will Increase In 2014.

Posted by admin March - 11 - 2014 - Tuesday

According to Fannie Mae’s February 2014 National Housing Survey results…….

Homeownership and renting

• Month-to-month, the average 12-month home price change expectation increased to 3.2 percent.

• The share of people who say home prices will go up in the next 12 months increased 7 percentage points to 50 percent, while the share who say home prices will stay the same decreased by seven percentage points to 38 percent.

• The share of respondents who say mortgage rates will go up in the next 12 months increased by 1 percentage point, to 56 percent.

• Those who say it’s a good time to buy a house increased from last month, up 3 percentage points to 68 percent.

• The average 12-month rental price change expectation increased from last month to 4.3 percent.

• 51 percent of those surveyed said home rental prices would rise in the next 12 months, an increase of 3 percentage points from last month.

• 45 percent of respondents thought it would be easy for them to get a home mortgage today, a 7-percentage point decrease from last month.

• The respondents who say they would buy if they were going to move fell 4 percentage points to 66 percent, and those who say they would rent increased to 30 percent.

The economy and household finances

• The share of respondents who say the economy is on the right track decreased 4 percentage points from last month to 35 percent.

• The percentage of respondents who expect their personal financial situation to get better in the next 12 months decreased slightly from last month, to 43 percent.

• The share of respondents who say their household income is significantly higher than it was 12 months ago increased 2 percentage points to 24 percent.

• At 36 percent, the share of respondents who say their household expenses are significantly higher than they were 12 months ago rose 4 percentage points from last month.

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