Fannie Mae’s October 2014 National Housing Survey is in and the facts reveal that most Americans’ are feeling more positive about the housing industry. A steady move up in the trusting that salaries and saving are going to increase seems to be leading the respondents more positive feeling about home ownership. The number of respondents in the survey that say they expect their individual financial circumstance to improve in the next 12 months has moved to 45 percent – higher than the contrast from one year prior – while those anticipating that their monetary circumstance will decline diminished to 10 percent over the month. Other factors revealed in the survey such as shopper temperament would seem to stifle the positive attitude toward the housing improvements the figures below reveal the steady upward tick in the attitude towards housing while only 40 percent of the study respondents saying the economy is more right than wrong.
“Consumers are growing more optimistic about the housing market in the face of broader improvement in economic sentiment,” said Doug Duncan, senior VP and boss economist at Fannie Mae. “The share of consumers who expect their personal finances to get better is near its highest level since the survey’s inception, while those expecting their finances to get worse reached a survey low. Home price expectations rose significantly this month, largely reversing the dip witnessed over the past four months, and the share of consumers who think it’s a good time to sell a home reached another survey high. The narrowing gap between home buying and home selling sentiment may foreshadow increased housing inventory levels and a better balance of housing supply and demand. These results may help drive a healthier housing market in 2015.”
This upward trend in attitude toward the housing price expectations in the market is good news for the housing industry as a whole. “This news should help individuals on the fence in areas like Charleston, get back to shopping for real estate”.