Excited about Home Ownership

Posted By @ Oct 11th 2012 9:19am In: Prudential Myrtle Beach Real Estate News

According to a recent Fannie Mae survey reported by The National Association of Realtors, Americans are increasingly more upbeat and optimistic about the housing market. In fact, "Americans’ views on the direction of housing prices has remained positive for 11 consecutive months in the survey, and the number of people expecting home prices to fall now rests at 11% an all-time low since the survey began in 2010." Overall, those who took the survey said that they expect home prices to increase 1.5%, on average, in the next year. “Consumers are showing increasing faith in the nascent housing recovery,” says Doug Duncan, Fannie Mae’s chief economist. Close to 20% feel that now is a good time to sell, the highest percentage since the survey began in 2010. Also, 69% feel that now would be a great time to buy. Those who took the survey also showed optimism with regard to the economy. 41% percent say they feel that the economy is on the right track. This is up from 33% last month. There is still a large number of those who feel that the economy is still on the wrong track but the overall feel for the housing market from buyers and sellers alike is optimistic and hopeful.

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