Americans Say They’d Rather Buy Than Rent

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Each month, Fannie Mae’s National Housing Survey polls Americans to assess their attitudes toward owning and renting a home, home price changes, the economy, household finances, and overall consumer confidence. In July, the survey found respondents slightly less optimistic than the month before. But despite the dip in confidence, the vast majority of participants still said they’d prefer to buy a home rather than rent if they were to move today. In fact, 65 percent said they’d buy if they were going to move, while just 28 percent said they would rent. Doug Duncan, Fannie Mae’s senior vice president and chief economist, said the residential real estate market remains strong. “It is premature to read too much into this month’s results as the survey was taken around the time of increased global turmoil, including Greece’s potential default and China’s stock market plunge, which has receded somewhat. Most of our key indicators are as strong or stronger than they were at this time last year, which is indicative of an improving housing market this year.” Also among the results, 61 percent of Americans believe now is a good time to buy a house, while 45 percent say it is a good time to sell. More here.

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