Consumers negative on housing, economy

By Jann Swanson | Mortgage News Daily

Consumer sentiment toward housing appeared to turn a bit negative in August. Fewer participants in Fannie Mae’s National Housing Survey thought it was now a good time to either buy or sell a house; expectations about continued home price gains ratcheted down, and views about the overall economy were less positive than in July.

Fannie Mae said respondents’ view of their own income both retrospectively and prospectively turned more bearish despite ongoing improvements in the labor market. But while attitudes softened, they suggest that housing activity may result in a modest recovery in 2015 after some pullback this year. Those who feel the overall economy is on the right track was unchanged at 35 percent but those giving “wrong track” answers fell 3 percentage points to 56 percent.

Continued:

If you’d like to discuss real estate matters, contact Rose Law Group founder Jordan Rose, jrose@roselawgroup.com

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September 9, 2014

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