According to a survey by mortgage lender by Fannie Mae, 70 percent of Americans believe that it is a good time to buy a home, a 6 percent improvement from a similar survey earlier this year. But at the same time, 33 percent said that they would likely rent their next residence if they were moving.
"Our survey shows that consumers see a mixed outlook for housing and homeownership," said Doug Duncan, vice president and chief economist at Fannie Mae. "Homeowners and renters alike continue to be wary of taking on risk, and they are less confident in the long-term outlook for housing."
Looking forward, many respondents are optimistic about the overall state of the moving and real estate markets. Seventy-eight percent of those polled said that they expect home prices to either stay level or go up over the next year.
That sentiment is not shared by a number of industry analysts. Bloomberg reports that the current excess in housing inventory may cause prices to remain low for the next three years.
More News