Americans Optimistic About The Economy, Housing Market

The results of Fannie Mae’s September 2012 National Housing Survey show consumers’ optimism about the economy and housing market continued to climb as the summer season wound down. Doug Duncan, senior vice president and chief economist of Fannie Mae, said consumers are showing increasing faith in the housing recovery due to improved home-price expectations, gains in the job market, and low mortgage rates. Among the highlights of the survey, 41 percent of respondents said the economy is on the right track, which is the highest level ever recorded and an 8.0 percent jump from the month before. Also, home-price expectations remained positive for the eleventh straight month, with 37 percent of Americans anticipating rising home values over the next year. The percentage of respondents who said they’d buy rather than rent their next home increased to 69 percent and the number of participants who said it was a good time to sell rose to 19 percent. More here and here.

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