WASHINGTON – May 8, 2014 – Americans’ outlook toward the housing market continued to improve in April – and perhaps foreshadow an increase in housing activity in the coming months – according to results from Fannie Mae’s April 2014 National Housing Survey.
The share of respondents who believe it’s a good time to sell a home increased for the third consecutive month to an all-time high of 42 percent, an encouraging sign since many potential homebuyers will need to sell a home before entering the purchase market.
In addition, the share of respondents who say it’s a good time to buy a home remained steady at 69 percent following a gradual climb since the beginning of the year. Notably, although consumers remain generally split regarding their ability to get a mortgage, fewer respondents are concerned about losing their job – which may encourage potential homebuyers to enter the market.
“Consumer attitudes about the current home selling environment have improved and now are at the most favorable level we’ve seen in the survey’s four-year history,” says Doug Duncan, senior vice president and chief economist at Fannie Mae. “These results are in line with our expectations for increased housing activity and gradual strengthening of the housing market going into the spring and summer selling season.”