A Good Time to Sell According to Fannie Mae and 1003 Americans

In January 2013 Fannie Mae released their National Housing Survey results.  This is the most detailed consumer attitude survey of its kind and surveyed 1003 Americans by live telephone interviews.

What Were the 1003 Consumers Asked Their Opinion On?

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  • owning or renting a home
  • home and rental price changes
  • home ownership distress
  • the economy
  • household finances
  • consumer confidence

More than 100 questions are asked of these participants and the findings are compared with the same survey conducted monthly since June 2010.

What Did These 1003 Consumers Think?

  • 23% think it is a good time to sell as compared to only 11% January 2011
  • 41% believe home prices will go up in the next year
  • 41% think mortgage rates will go up
  • 7% think mortgage rates will go down
  • 50% believe home rental prices will go up in the next 12 months
  • 65% say they would buy if they were planning to move
  • 39% believe the economy is on the right track
  • 43% believe their own personal finances will get better over the next year
  • 23% say their household income has improved from this time last year
  • 38% say they have significantly higher household expenses than one year ago – the highest level since Dec 2011
  • 19% are concerned they will lose their jobs in the next 12 months – this is the lowest percentage since the survey began

What Does Fannie Mae Think?

Doug Duncan, senior vice president and chief economist at Fannie Mae said, ” The housing market continues to firm, with consumer home price expectations for both rental and ownership properties near the strongest levels that we’ve seen in the survey’s two and a half year history.  Concerns about job loss are waning as payrolls are growing – a trend that may give potential homebuyers more confidence that they can meet the financial obligations of homeownership.”

Duncan believes that the confidence in consumers who think that it is a good time to sell is partly due to the decline in the number of homeowners who are underwater.  This causes the “regular” homeseller to feel confident they can get a fair price for their home.

Click here to keep up with the new statistics published monthly by Fannie Mae.

Are You Thinking of Selling?

If you are thinking of selling your home now is the time to enter the market when the buyers are anxious and there is a pent up demand for new homes.  Contact me or call me at 239-601-3174 for a market valuation on your home.  You might be surprised at the new market value!

What are your thoughts on the answers given by the 1003 Americans?  Post your comments below to make your opnion count.

Remember, it is always toasty in Naples and you deserve your piece of Naples sunshine!

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