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Housing Recovery Expected to Press On Despite Recent Volatility in Consumer Attitudes

Americans’ outlook on housing and the economy has fluctuated somewhat during the past few months, but the trend for most indicators remains positive overall, according to Fannie Mae’s February 2014 National Housing Survey results.

Highlights from the survey include:

  • The average 12-month home price change expectation increased from last month, to 3.2 percent.
  • The share of people who say home prices will go up in the next 12 months increased 7 percentage points to 50 percent, while the share who say home prices will stay the same decreased by seven percentage points to 38 percent.
  • The share of respondents who say mortgage rates will go up in the next 12 months increased 1 percentage point, to 56 percent.
  • Those who say it is a good time to buy a house increased from last month, up 3 percentage points to 68 percent.
  • The average 12-month rental price change expectation increased from last month to 4.3 percent.
  • Fifty-one percent of those surveyed said home rental prices will go up in the next 12 months, an increase of 3 percentage points from last month.
  • Forty-five percent of respondents thought it would be easy for them to get a home mortgage today, a 7 percentage point decrease from last month.
  •  The share who say they would buy if they were going to move fell 4 percentage points to 66 percent, and those who say they would rent increased to 30 percent.

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