Fannie Mae’s June 2012 National Housing Survey -- released July 9 -- shows a continued positive trend of increasing confidence in the U.S. housing market. Nationwide, American consumers positive sentiment remains buoyed by lower house prices and interest rates at historically low levels.
- The percentage who say it is a good time to buy increased slightly to 73%, matching the highest level recorded since the survey began two years ago.
- Average home price expectation hit 2.0% this month, a 0.6% increase from May and the highest value recorded since the survey began in June 2010.
- Thirty-five percent of respondents say that home prices will go up in the next 12 months, the highest level recorded since the survey’s inception.
- Sixty-nine percent of respondents said that they would buy if they were going to move, a 6 percentage point increase from last month and the highest level recorded since the survey’s inception.
- The percentage of respondents who would rent decreased from 32% to 27%, the lowest number to date.
The most detailed consumer attitudinal survey of its kind, the Fannie Mae National Housing Survey polls Americans on attitudes toward owning and renting a home, mortgage rates, homeownership distress, the economy, household finances, and overall consumer confidence. More than 100 questions are used to track attitudinal shifts. The survey has been conducted monthly since June 2010.
For detailed findings from the June 2012 survey, as well as a podcast providing an audio synopsis of the survey results and technical notes on survey methodology and questions asked of respondents associated with each monthly indicator, please visit the Fannie Mae Monthly National Housing Survey site. The June 2012 Fannie Mae National Housing Survey was conducted between June 4, 2012 and June 21, 2012.