Fannie Mae's recent housing survey shows that consumers feel better about the real estate market than they did one year ago, while they still lack confidence in the economy. The latest survey was conducted during the fourth quarter of 2010, asked homeowners and tenants to provide their opinions of the real estate market, personal finances, mortgage market and the economy. The highlights of the survey are outlined below.
- 78% of the respondents think housing prices will rise or hold steady in 2011.
- 62% think that the economy is heading in the wrong direction.
- 65% think that now is a good time to buy a home.
- Younger Americans and Minorities are more positive about owning a home than others.
- 35% of Minorities stated they plan purchase a home in the near future which is more than others.
- 74% think that it will be more difficult for future generations to purchase a home.
- 33% of borrowers behind on their mortgage stated they have considered defaulting.
- 19% of borrowers behind on their mortgage stated they have seriously considered defaulting.
Fannie Mae Housing Survey Fact Sheet