Negativity was pervasive in the results of Fannie Mae’s July National Housing Survey (NHS). Respondents indicated falling expectations about the economy, housing, and their own personal financial situation. They did however feel that home prices would continue to rise – which could be either positive or negative depending on the perspective – as well as interest rates.
After climbing fairly steadily earlier in the year, July saw a huge 7 percentage point drop in the percentage of respondents who believe now is a good time to sell a house. Those who believe it is a good time to buy dropped to 61 percent-an all-time survey low.