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Fannie Mae Survey says Americans’ Expect Home Prices, Rents and Mortgage Rates to Rise

Americans’ Expectations Align to Encourage Home Buying

Respondents Expect Significant Rental Price Rise

WASHINGTON, DC – More consumers may be looking to purchase homes with a shift in several key housing market indicators, according to Fannie Mae’s March 2012 consumer attitudinal National Housing Survey.  More Americans now expect both home rental and home purchase prices to increase over the next year.  Nearly half of consumers expect higher rental prices, the highest number recorded since monthly tracking began in June 2010.  Thirty-three percent expect home prices to increase, up 5 percentage points since last month, and the highest percentage recorded in over a year.  In addition, confidence in consumers’ views of their own finances is stabilizing—for three straight months—44 percent believe their personal finances will get better over the next year.  These trends may be providing Americans with an increased sense of urgency to buy a home as 73 percent of Americans now believe it is a good time to buy a home, up from seventy percent in February.

Read the release in its entirety here: http://www.fanniemae.com/portal/about-us/media/corporate-news/2012/5690.html

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