Homes on 13th Street.
By most accounts, the outcome of last night’s presidential election is not going to have much (if any) effect on the housing market, nationally or locally. However, that doesn’t mean that in your post-election haze, UrbanTurf can’t provide you with a sense of how the public is feeling about the market.
On Wednesday morning, Fannie Mae released its October National Housing Survey. Here are some interesting takeaways:
- On average, survey respondents expect home prices to edge up 1.7 percent over the coming year.
- Ten percent of those surveyed say that home prices will go down in the next 12 months, a drop from 23 percent in October 2011.
- 72 percent of those surveyed believe that it is a good time to buy a home, while just 18 percent believe that it is a good time to sell.
- 37 percent think that mortgage rates will increase in the coming year.
- Half of those that were surveyed think that rental prices will increase over the course of the next year, the highest level since the survey’s inception in June 2010.
For more of the survey results, click here.
This article originally published at https://dc.urbanturf.com/articles/blog/how_is_the_u.s._feeling_about_housing/6266.
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