After conducting National Housing Survey in January, Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA), reported that consumer’s positive financial outlook is a good sign for housing. The percentage of respondent who accepted that their household income is higher than it was a year ago, jumped 4% to 29% compared to December survey. The respondents who believe their personal finances to improve in the next year surged to 48%.
The respondents who said that it is a good time to purchase a home surged 3% to 67%. Also, the people who said that they would buy a home rather than rent it jumped 5% to 66%. The last time it showed an increase was in September 2014. The results indicate that consumers have a positive outlook on their personal finances, and this optimism seems to be affecting their perception on the housing market. The findings of the survey are in line with Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) optimism about future growth in their business.
The expert views
Doug Duncan, the Chief Economist at Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA), said that consumers believe it to a good time both for selling and buying a home today. The respondents who want to buy a home have increased, reversing a three-month trend that favored renting. The improving economy and strengthening employment will boost the pace of the housing recovery.
As per the 2015 January National Housing Survey of Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA), the average twelve-month house price change expectation increased to 2.5%. The respondents who believe home prices to decline came unchanged at 8%. Almost 45% of respondents believe that mortgage rates will rise over the year. The average twelve-month rental price change expectation declined to 3.6%. People who believe it would be easy to acquire home loan mortgage declined to 50%. Federal National polled 1,000 Americans to figure out consumer attitude towards the housing industry.