flexiblefullpage -
Currently Reading

70 Percent of Americans Surveyed Tell Fannie Mae It's a Good Time To Buy a Home

Advertisement
billboard -
Financial

70 Percent of Americans Surveyed Tell Fannie Mae It's a Good Time To Buy a Home

Almost three quarters of Americans give home buying the thumbs up, from 64 percent in a Fannie Mae survey conducted in January.


By Matt Phair, HousingZone Contributing Editor September 21, 2010

Almost three quarters of Americans give homebuying the thumbs up. According to the Fannie Mae national housing survey, 70 percent of Americans believe it is a good time to buy a home, up from 64 percent in a survey conducted in January. The number is down from 83 percent from a survey conducted in 2003. Fannie Mae surveyed 3,400 adults from June to July. Although more liked the timing of the market, 33 percent said they would be more likely to rent than own when they move next.

But the improved sentiment toward purchase timing is surprising after the expiration of the homebuyer tax credit in April and the 27 percent drop in existing home sales in July. Of those surveyed, 47 percent believe home prices have bottomed, and 31 percent said prices would increase over the next year. The combined 78 percent of those not expecting further declines is up from 73 percent at the beginning of the year. But there may not be enough willing sellers as 83 percent believe it's a bad time to sell a home.

Doug Duncan, vice president and chief economist at Fannie Mae, said the survey showed a mixed outlook for housing and homeownership. "Homeowners and renters alike continue to be wary of taking on risk, and they are less confident in the long-term outlook for housing," Duncan said.

Related Stories

Custom Builder

In Business: Modern Design, Compromise, and Money

Custom builder Zane Williams opens up about what it takes to maintain his architectural vision, from handling clients and staying true to his fluid style, to the importance of transparency and how a slush fund avoids awkward conversations mid-construction

Custom Builder

Top Problems Faced by Builders in 2022

Chief among the concerns was the price and availability of building materials, though the impact of waning consumer confidence also grew

Custom Builder

Custom Home Building Gets Good News

New data from NAHB shows that while much of the market is in contraction, custom home building continues to gain strength 

Business

Cash Isn't Just King, It's Your Lifeline

Four experts explain how paying attention to cash flow can help keep builders from robbing Peter to pay Paul

Business

Show Me The Money

Use these tips to increase margins in 2019

Business

Strategies for Maximizing Profit

Custom home builders talk about what they do on the front end of a project to achieve better margins

Leadership

Is A GMP Contract Right For You?

Guaranteed maximum price contracts require a true team effort and an open-book policy

Financial

Jacobs Companies Funds Development with Crowdfunding

The Taylor Junction townhome project to be built by the Jacobs Companies, Deerfield, Ill., could be the first ground-up subdivision in Illinois to be crowdfunded.

Business

Mark Richardson: Are you a professional?

Defining and articulating what is a professional in remodeling or new construction is tougher than in some other industries.

Leadership

Always deliver value

Your custom building clients come from all walks of life. But they have one thing in common: They are successful, and they have money. And more often than not, your clients are wealthy because they spend wisely.

Advertisement
boombox1 -
Advertisement
boombox2 -
Advertisement
native1 -

More in Category

Custom Builder

In Business: Modern Design, Compromise, and Money

Custom builder Zane Williams opens up about what it takes to maintain his architectural vision, from handling clients and staying true to his fluid style, to the importance of transparency and how a slush fund avoids awkward conversations mid-construction




Advertisement
native2 -
Advertisement
halfpage1 -