Welcome!




Expand Your Education with These Courses from
Customer Relationship Building: Skills for Sales Success: Part Seven.
Accredited Buyer's Representative.
At Home with Diversity.
Bundle 2: CIPS Elective Courses (Non-US Version).
Bundle 3: CIPS Institute (US Version).

Spooky Fears Haunting Consumers?

Have a comment on this article? Share on Facebook!

By Steve Cook

Consumers don’t plan to buy homes anytime soon because they think prices will fall farther next year, mortgage rates will stay low for a long time and they’re very worried about their personal financial situation.

Just in time for the Halloween season, that’s the takeaway from the latest Fannie Mae National Housing Survey, which offered a few glimmers of hope for the housing industry.

Some highlights:

• One out of three consumers think that mortgage rates will go up in the next 12 months (down 12 percentage points since August).

• Americans expect home prices to decline over the next year. On average, Americans expect home prices to go down by 1.1 percent.

• 18 percent of respondents expect home prices to increase over the next 12 months (the lowest reported number to date in the National Housing Survey), while 25 percent say they expect home prices to decline (down by 2 percentage points since August).

• While 68 percent of Americans say it is a good time to buy a home, only 10 percent of those polled say it is a good time to sell one’s home (up by 1 percentage point since August).

• On average, Americans expect home rental prices to go up by 3.3 percent over the next year, down slightly from the expected increase of 3.5 percent observed in August.

• Despite continued consumer caution about taking on a large financial obligation to buy a home, 63 percent say they would buy their next home if they were going to move (up by 1 percentage point since August), while 32 percent of Americans say they would rent their next home (down 2 percentage points since last month).

For more information, visit www.realestateeconomywatch.com.

Want instant access to great articles like this for your blog or newsletter? Check out our 30-day FREE trial of REsource Licensed Real Estate Content Solutions. Need easy stay-in-touch e-Marketing solutions too? Try Pop-a-Note for 99 cents!
Join RISMedia on Twitter and Facebook to connect with us and share your thoughts on this and other topics.




Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Copyright© 2014 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com

Our Latest News >>