According the latest results from Fannie Mae’s National Housing Survey, consumer attitudes about the housing market have continued to improve.
They say the improvements in the May 2015 survey reflect respondents reporting significant increase in their household income.
The survey highlights were:
- The average 12-month home price change expectation remained at 2.8 percent.
- The share of respondents who say home prices will go up in the next 12 months rose to 49 percent. The share who say home prices will go down fell to 6 percent.
- The share of respondents who say mortgage rates will go up in the next 12 months fell to 47 percent.
- Those who say it is a good time to buy a house rose back up to 66 percent, while those who say it is a good time to sell went up 3 percentage points to 49 percent – a new survey high.
- The average 12-month rental price change expectation rose to 4.3 percent.
- The percentage of respondents who expect home rental prices to go up rose to 55 percent.
- Those who think it would be easy to get a home mortgage decreased by 2 percentage points to 50 percent, while those who think it would be difficult remained at 46 percent.
- The share who say they would buy if they were going to move rose 3 percentage points to 66 percent, while the share who would rent fell to 27 percent.
