Americans Increasingly Optimistic About Housing

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Americans are increasingly optimistic about the economy, their personal financial situation, and the housing market, according to the most recent results of Fannie Mae’s monthly National Housing Survey. The survey – which polls Americans to assess their views on household finances, buying and renting homes, home price changes, and more – found a record number of respondents who said the economy is headed in the right direction. And, according to Fannie Mae’s senior vice president and chief economist, Doug Duncan, growing economic confidence should help boost the housing market in the months ahead. “Continuing improvements in consumer attitudes in this month’s National Housing Survey lend support to our expectation that 2015 will be a year of the economy dragging housing upward,” Duncan said. In fact, optimism about the economy is likely the reason the number of participants who said they felt it would be easy for them to get a mortgage also hit a survey high. In addition, attitudes about the current home buying and selling environment are strong and the number of respondents who say they intend to buy a home the next time they move has been consistently high. Despite the encouraging results of this month’s survey, however, Duncan cautions that there needs to be more growth in consumer optimism toward personal finances and income before we see a more robust housing recovery take hold. More here.

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