After several years of understandable negativity toward the economy and the real estate market, a new survey shows that Americans’ concerns about key economic and housing issues are beginning to subside.Fannie Mae’s February 2012 National Housing Survey shows that consumer attitudes have stabilized across most indicators—including personal finances, housing, and employment—compared to late summer and fall of 2011. The survey polls 1,003 Americans via telephone interview to assess their attitudes toward owning and renting a home, mortgage rates, homeownership distress, the economy, household finances, and overall consumer confidence. Homeowners and renters are asked more than 100 questions used to track attitudinal shifts.The survey shows that the most dramatic change revolves around the economy—35 percent of Americans now feel that the economy is on the right track, up 19 percentage points since November, and 57 percent think the economy is on the wrong track, down 18 percentage points since November.Americans’ confidence about personal financial situations, household income, and household expenses, as well as attitudes about homeownership and renting is holding at steady levels. Also important to note, Americans’ concerns about losing their job in the next 12 months has stabilized since the late fall, with 76 percent of Americans saying they are not concerned in February 2012, compared to 70 percent in November 2011. Fannie Mae believes that the recent pick-up in the pace of hiring over the past few months is directly responsible for alleviating consumer concerns about unemployment.Here are some additional highlights from this important survey:
As rents continue to increase and more home sellers enter the market, the next few months represent a critical opportunity to purchase your first home or move up to your next home. Positive data like the above will quickly build momentum in the current housing market.
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Duane Duggan & Tammy MilanoThe Boulder Property Networkat RE/MAX of Boulder 2425 Canyon Blvd. Suite #110Boulder, CO 80302303-441-5611303-441-5612800-825-7000 email@example.com firstname.lastname@example.org
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