Americans Upbeat About Housing Market

Fannie Mae’s February 2013 National Housing Survey indicates that Americans on average continue to housing as a bright spot in the economy. Attitudes toward housing remains positive while sentiments about the economy and household finances are waning. The survey shows more and more Americans believe home prices will increase over the next year, but confidence in personal finances, household income, and health of the economy continued to dip slightly. Doug Duncan, chief economist at Fannie Mae explains, “Despite fiscal headwinds and political uncertainty, consumer sentiment toward housing is robust and continues to gather strength.”

48% of respondents believe home prices will go up in the next 12 months

One in 4 think it’s a good time to sell a house – the highest level since the survey’s inception in June 2010

45% believe mortgage rates will go up

Survey revealed a 2% decrease in number of respondents who believe their personal financial situation will get better in the next two months.

67% of respondents reported they would buy rather than rent

Only 38% say the economy is on the right track – a number that has remained steady over the last three months.

Overall consumers expect home prices and mortgage rates to rise. To view the full report click here. For more information about Lake Tahoe area real estate, visit www.sierrasothebysrealty.com or call 888.444.1505. Sierra Sotheby’s International Realty – Your local expert with global reach.