A good time to buy property in Orlando
WASHINGTON, DC – Dec. 9, 2014 – While the real estate market continues to improve slowly, Fannie Mae’s November 2014 National Housing Survey finds some subtle shifts in consumers’ attitudes.
Overall, buyers seems to be more optimistic about whether or not it’s time to jump into the market; however, fewer homeowners think it’s a good time to sell.
The share who believe it’s a good time to buy and sell a home moved further apart. Sixty-eight percent of consumers now say it’s a good time buy, a 3 percentage point increase; but only 39 percent say it’s a good time to sell – a 5 percentage point drop.
Still, Duncan says potential buyers have a more optimistic outlook.
“More encouraging is the steady upward trend this year in consumers’ assessment of their personal finances, with 46 percent of Americans – near the survey’s high – expecting their personal financial situation to improve over the next 12 months,” Duncan adds. “We expect consumer attitudes toward housing to improve … However, a sustained improvement … that could support a robust housing recovery … will require meaningful gains in household income.”
Homeownership and renting
- The average 12-month home price change expectation fell to 2.6%
- 44% of respondents expect home prices to go up over the next 12 months, while 6% expect them to go down
- Fewer Americans (45%, a drop of 3 points) expect mortgage rates to go up in the next 12 months
- 53% of respondents expect home rental prices to go up in the next 12 months – a 4 point increase
- The share who think it would be difficult to get a home mortgage today decreased by 3 percentage points
- The share who would buy a home if they moved fell to 62 percent, while the share who would rent increased to 31 percent
© 2014 Florida Realtors®
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