Fannie Mae Survey Shows Confidence in Economy

Fannie Mae Survey Shows Confidence in Economy

May 30, 2012


The percentage of American’s who believe the US economy is reaching upward, as well as those who believe home prices are on the rise is at a record high, according to the April 2012 National Housing Survey, conducted by Fannie Mae. Survey results state American’s expect the average home price to rise 1.3 percent over the next year.


Fannie Mae chief economist Doug Duncan explained, “Overall, consumer views of housing market conditions have become more supportive of home purchases, and sustained healthy hiring is required to help realize these improved expectations.”


Duncan’s views reference the April report from the Bureau of Labor Statistics, which state a growth in employment and resultant drop in unemployment. According to the April report, the US added 115,000 jobs in April. While the number was below expectations reported in March, the unemployment level (8.1 percent) is at its lowest since January 2009 (7.8 percent). The rise in employment rates, coupled with the slight increase in the percentage of those who believe the market shows value to home sellers, 15 percent, sets the pace for strong growth within the economy.


As 37 percent of Americans believe the economy is trellised for regrowth (a two percent increase from March), and 23 percent of Americans reported their household income is significantly higher than it was at the same time last year, many believe now marks a profitable time for investments. As the economy remains on the mend, meaning home prices are still low but showing potential for growth and economic outlooks are brightening, home and commercial investment prices remain low enough to produce substantial profits in the future.


The Fannie Mae survey polled a sample of 1,000 respondents across the United States, aged 18 and over, between April 4, 2011 and April 27, 2012.


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