RTC Mortgage Blog

Good Time To Buy, Sell, Refinance

April 12th, 2013 1:55 PM by Richard T. Cirelli

Survey Says………..More Americans View this as Good Time to Sell a House

The latest National Housing Survey conducted monthly by Fannie Mae showed continued optimism toward housing and the economy

·         73%  -  The percentage of persons surveyed who believe this is a good time to purchase a home. Unchanged from February

·         26%  -  The percentage who believe this is a good time to sell reached a survey high of 26 percent - double the percentage

                     with that opinion one year earlier.

·         48%:  -  Expect home prices to increase over the next 12 months, unchanged from February.  This is the highest rate since

 the survey was first conducted in 2010.  Only 10 percent expect prices to decrease, unchanged from February.

·         2.9%  -  The average expectation for a price increase. The survey shows a string of 17 positive one-year-ahead home price

expectations through March. However, the average expected gains have remained below 3 percent. By

comparison, main measures of national home prices in early 2013 posted year-over-year gains of at least double or

 triple that figure.

·         50%  -  Expect rents to increase in the next 12 months,

·         4.0%  - Expect rents to decrease

·         46%  -  Expect interest rates to increase over the next 12 months

·         35%  -  Share of respondents who say the economy is on the right track. Down 3 percentage points compared to

February.  Right track responses have been on a general downward track since November when they peaked near

50 percent. 

Fannie Mae conducts its telephone survey each month since June 2010 to assess the attitudes of Americans toward owning and renting a home, home and rental price changes, homeowner distress, the economy, and household finances.  Both homeowners and renters are contacted for the survey which includes more than 100 questions.  The bulk of data collection for the current survey occurred during the first two weeks of March.

Posted in:General
Posted by Richard T. Cirelli on April 12th, 2013 1:55 PM



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