Results from Fannie Mae’s June 2012 National Housing Survey show that housing market confidence among Americans continues to trend in a positive direction.
The positive outlook of Americans towards the housing market, according to Fannie Mae’s latest survey, was buoyed by historically low level of interest rates and low home prices.
Doug Duncan, senior vice president and chief economist of Fannie Mae, said in a statement, “While consumers remain cautious about the general economy, their attitudes toward the housing market continue to improve.”
The senior vice president and chief economist of Fannie Mae added, “Although this positive trend may be short-lived if the general economy falters, one might ask whether consumers are increasingly seeing the current environment as a unique opportunity to buy a home while home prices remain depressed, rental costs are increasing, and interest rates are near historic lows.”
Respondents of the Fannie Mae survey anticipate prices of homes to rise on average 2% in the next year. Thirty-five percent of the respondents also expect home prices to rise in the next 12 months.
The Fannie Mae survey also shows that consumers who express they would purchase a home if they were going to move increased by 6% points in June this year.
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