More Americans are growing optimistic about home-price appreciation and selling, according to Fannie Mae’s October 2014 National Housing Survey of 1,000 adults.
Home-price expectations rose significantly in the latest survey, largely reversing a dip over the past four months, says Doug Duncan, Fannie Mae’s chief economist. Consumers who say now is a good time to sell a home reached another survey high this month.
“The narrowing gap between home buying and home selling sentiment may foreshadow increased housing inventory levels and a better balance of housing supply and demand,” Duncan says. “These results may help drive a healthier housing market in 2015.”
Duncan says the latest survey showed consumers are growing more optimistic about the housing market “in the face of broader improvement in economic sentiment. The share of consumers who expect their personal finances to get better is near its highest level since the survey’s inception, those expecting their finances to get worse reached a survey low.”
Additional highlights from the survey at source: Fannie Mae