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April Housing Survey

The results of April’s Fannie Mae National Housing Survey showed more that half of American’s now expect the country’s home prices to climb within the next year. Those who said prices will go down remained at the survey low of 10 percent for the fo

The results of April’s Fannie Mae National Housing Survey showed more that half of American’s now expect the country’s home prices to climb within the next year.  Those who said prices will go down remained at the survey low of 10 percent for the fourth month in a row.

The most detailed consumer attitudinal survey of its kind, the Fannie Mae National Housing Survey polled 1,001 Americans via live telephone interview to assess their attitudes toward owning and renting a home,  rental price changes, homeownership distress, the economy, household finances, and overall consumer confidence.

“For the first time in the survey’s three-year history, the majority of Americans surveyed now expect home prices to increase,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “Crossing the 50 percent threshold marks a significant milestone as most Americans believe a housing recovery is truly occurring throughout the country.”

With wide spread optimism the percent of those surveyed saying that now is a good time to sell rose 4% in April to 30% compared to 15% last year.  This optimism bodes well for continued improvement in the housing market as recent data shows that fie out of eight people who buy have to sell first.

Thirty nine percent of survey participants said the economy is on the right tract, an increase of 4 percentage points over March.

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