The results are in from Fannie Mae’s latest National Housing Survey. And after polling close to 3,400 Americans including renters, homeowners, mortgage borrowers, underwater borrowers and delinquent borrowers between June 2010 and July 2010, Fannie Mae releases its results.
Overall, respondents are increasingly more confident in the health of the housing market and think it has reached bottom.
Housing and the Economy
- Eighty-two percent of respondents consider homeownership important to the economy.
- Seventy percent of respondents think it is a good time to buy a house.
- More than three-quarters (78 percent) think home prices will stay the same or go up over the next year.
- Eighty-five percent of Americans think home rental prices will stay the same or go up over the next year.
Desirability of Homeownership
- Sixty-seven percent of respondents said they believe buying a home is a safe investment.
- Eighty-four percent of consumers believe owning makes more sense than renting.
- Sixty-three percent of all survey respondents would likely buy instead of rent if they were to move.
- Respondents cite non-financial reasons such as safety and quality of local schools as driving factors in wanting to own a home.