Americans Cautious But Still Eager To Buy

The number of Americans who say they’d buy, rather than rent, if they were going to move increased during the month of September, according to Fannie Mae’s September 2013 National Housing Survey. The survey, which polls 1,000 Americans every month via telephone to assess their attitudes toward owning, renting, prices, mortgage rates, the economy, household finances, and overall consumer confidence, found 69 percent of respondents say they’d prefer to buy a home over renting. The number who said they felt it was a good time to buy a house also rose, increasing to 72 percent. Still, the level of optimism about the overall economy has begun to plateau after recent improvements. According to Doug Duncan, senior vice president and chief economist at Fannie Mae, September’s results reflect Americans’ uncertainty about economic policy leading up to the government shutdown and debt ceiling debate. The survey shows that the improvements in consumer housing attitudes witnessed in recent months softened ahead of the government shutdown, Duncan said. How these fiscal policy issues are addressed could impact Americans’ attitudes and influence the economic and housing recovery in October and beyond. More here.

Comments are closed.