Consumer Housing Sentiment Continues to Rise as Employment Concerns Wane; More Americans Say Now is a Good Time to Sell
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 we’ve seen in the survey’s two-and-a-half-year history," said Doug Duncan, senior vice president and chief economist at Fannie Mae. "Concerns about job loss are waning as payrolls are growing – a trend that may give potential homebuyers more confidence that they can meet the financial obligation of homeownership. The upward trend over the past year and a half in the share of consumers who say it's a good time to sell may reflect two related events. First, homeowners see that home prices are improving. Second, the number of homeowners who are underwater is declining, reducing a barrier for those owners who need to sell their home in order to buy a new one."
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.
On this webpage you will find a news release with highlights from the survey results, the January 2013 Data Release highlighting 11 consumer attitudinal indicators, and a podcast containing highlights from this month’s survey.