Dive Brief:
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After expressing some reluctance in August, Americans in September said they believe it’s a good time to buy a house, Fannie Mae’s latest National Housing Survey revealed.
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Fannie Mae analysts said turbulence in the Middle East might have dampened consumer housing sentiment over the summer.
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About 68% of consumers in the September survey said now is a good time to buy, and 66% said they would like to purchase a home for their next move. Another 39% said it’s a good time sell a home, and 45% expect housing prices to rise over the next year.
Dive Insight:
That optimism probably won’t affect this year’s home sales, which are on track to be down in 2014 for the first time in five years. Still, notes Doug Duncan, Fannie Mae’s chief economist, the slight uptick in consumer housing sentiment indicates that the housing recovery will continue next year.