Consumer Confidence in Housing Grows, Renters Staying the Course
Increasing confidence in home sales and an improved sense of job security provide further evidence of the strengthening of the housing market, according to Fannie Mae’s January 2013 National Housing Survey results.
Underlying the growing sense of optimism, the percentage of survey respondents who think it is a good time to sell a home continued to climb to 23 percent last month from 11 percent the same time last year. While expectations regarding personal finances stayed relatively flat last month, other housing indicators remained at or near survey highs, indicating consumers remain confident in the stability of the housing market.
“The housing market continues to firm, with consumer home price expectations for both rental and ownership properties near the strongest levels that weve seen in the surveys two-and-a-half-year history,” said Doug Duncan, senior vice president and chief economist at Fannie Mae.
Fannie Mae’s monthly national consumer attitudinal survey report provides indicators offering a window into the opinions of Americans across the country. These behavioral insights convey what consumers think about the outlook for owning and renting a home and about their household finances, and may serve as key inputs for determining the future course of investment across housing types.
Of renters surveys, 50% expect that home rental prices will go up in the next 12 months, the highest level since the survey’s inception.
The share of respondents who said they will rent again next time they move remained at 31%.
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