On a monthly basis, Fannie Mae conducts it's National Housing Survey to assess whether Americans prefer owning a home versus renting, current home prices, the economy conditions, household finances and overall consumer confidence. The latest survey in July found participants were not as confident than they were in June.
However, even with the slight decline, the vast majority of those surveyed reported they would choose to purchase a home for sale rather than rent if they were to make a move today. The survey indicated that sixty-five percent said they would purchase as opposed to twenty-eight who said they would prefer choosing a home or condo rental.
Fannie Mae's senior vice president and chief economist Doug Duncan said the residential real estate market continues to remain healthy. He also was quoted as saying, “It is premature to read too much into this month's results as the survey was taken around the time of increased global turmoil, including Greece's potential default and China's stock market plunge, which has receded somewhat. Most of our key indicators are as strong or stronger than they were at this time last year, which is indicative of an improving housing market this year.”
Included in the survey results, sixty-one percent of respondents believe now is a great time to buy a condo or home, while forty-five percent believe it is a great time to sell a home. More on this story here..