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Homebuyers Feeling More Positive About Home Prices

Fannie Mae's latest survey shows American consumers feeling more confident about the housing market.

Overall, consumer perspectives on the housing market are improving. Last week, Fannie Mae released the results of their April 2012 National Housing Survey. Each month, 1,000 random Americans are surveyed to come up with the latest results each month.

According to the survey, the percentage of Americans who believe now is a good time to sell a home rose to 15% in April, up from relatively flat levels in 2011. Fannie Mae’s vice president and chief economist, Doug Duncan, says the results of the survey show “a continued gradual improvement in consumer sentiment and outlook for home prices.”

While 39% of those surveyed expect mortgage rates will rise in the next year, the large majority of those surveyed still think it’s a good time to buy a home. In fact, 71% of Americans surveyed last month believe it’s a good time to buy.

It’s true that recent unemployment rates were not as positive as most would like and that can mean some areas will not show the same strong signs of recovery as quickly as others. Nevertheless, based on Fannie Mae’s survey, more Americans believe home prices and opportunities for buyers and sellers will increase over the next 12 months. That kind of perspective is good news for everyone.

 

Source: http://www.housingwire.com/news/consumer-attitudes-about-home-buying-prices-improve

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