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Fannie Mae’s National Housing Survey polls Americans each month to assess their attitudes and expectations toward owning a home, renting, mortgage rates, the economy, household finances, and overall consumer confidence. In November, 68 percent of respondents said now was a good time to buy a home and, for the first time in six months, surveyed Americans said they expected prices to rise over the next year. Among respondents, 22 percent said they expected price increases over the next 12 months. The average expected increase was 0.2 percent. Doug Duncan, Fannie Mae’s vice president and chief economist, said though home price expectations have become slightly positive, consumers remain concerned about the economy and view their household finances as being relatively flat. When asked whether they’d buy or rent their next home, 63 percent of Americans said they’d prefer to buy. More here.
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