Tuesday, March 10, 2015

Consumers Grow Increasingly Optimistic about the Housing Market & Economy

Housing Sentiment in 2015 has seen an increase from a few contributing factors, including strengthening employment and consumer optimism according to Fannie Mae's February Housing Survey.  Respondents who believe that the economy is heading in the right direction rose 3 percentage points last month, which is an all - time survey high at 47%.  In addition those believing it is easier to get a home mortgage today increased to a record high of 54%.  "We continue to see strength in attitudes about the current home buying and selling environment and consistently high shares of consumers saying they expect to buy a home on their next move." says Doug Duncan, Senior VP & Chief Economist at Fannie Mae. 

Here are some additional statistics generated by the survey:
·         The average 12 - month home price change expectation remained at 2.25%

·         The average 12 - month rental price change expectation increased to 4.0

·       A survey high revealed that respondents believing that it will be easier to obtain a home mortgage today settled at 54%.

·         The shares of respondents who say the economy is on the right track increased by 3 percentage points to a level of 47%, which is an all - time high for the survey.  Couple those results with the fact that respondents who believed the economy was headed in a negative direction fell to an all - time low 45%.
National award-winners and seasoned Realtors with over many years of experience in Northern & Central New Jersey, Rahul & Smitha and their team have become New Jersey’s “Go To” agents and consistent leaders with a reputation for tenaciously protecting their clients’ interests. They specialize in Morris, Somerset, Essex, Union and Passaic Counties