logo
  Join        Login             Stock Quote

Growth In Home Prices Expected This Year: Survey

 January 07, 2013 02:52 PM


(By Balachander) Fannie Mae's housing survey showed that consumers expect home prices to increase in the next 12 months, though fiscal cliff debate appears to rattle overall economic and financial confidence.

Consumer confidence in the housing sector grew last month, marked by continued positive attitudes toward home price, rental price, and mortgage rate expectations, Fannie Mae said.

At 43 percent, the share who believe home prices will go up in the next 12 months reached the highest level recorded, up 6 percentage points over November. The average 12-month home price change expectation jumped to 2.6 percent, Fannie Mae said.

Doug Duncan, chief economist of Fannie Mae said the positive home price outlook could incentivize those waiting on the sidelines of the housing market to buy a home sooner rather than later and thus support continued housing acceleration.

[Related -SolarCity Corp (SCTY): Baird Says Buy the Dip]

Fannie Mae said 49 percent of those surveyed say home rental prices will go up in the next 12 months, a slight increase from last month.

"However, while consumers seem confident that housing activity is on the rise, their outlook toward the economy and personal finances appears to have resumed a more unsettled trend following a show of optimism in November," Duncan said.

This uncertainty, Duncan said, seems to be prompting a growing share of consumers to expect their personal finances to worsen and may contribute to weaker near-term economic growth.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageFord Motor Company (F): A long Road to Deutsche Bank’s $19 Target

Ford Motor Company (NYSE:F) is going the right way on a one way street where most everybody else is driving read on...

article imageCitigroup Inc (C) Q1 Earnings Preview: Too Many Parts Heading South

Citigroup Inc (NYSE:C) will issue its first quarter results via press release at approximately 8 a.m. (ET) read on...

article imageFacebook Inc (FB): You Might Not Like It Today, But You’ll Like It Tomorrow

Do you honestly want to invest in stocks right now? It sure looks like the bull market is at least on read on...

article imageJPMorgan Chase & Co. (JPM) Q1 Earnings Preview: Regulation Costs To Trim Guidance?

JPMorgan Chase & Co. (NYSE:JPM) will host a conference call to review first quarter 2014 financial results read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.