REAL ESTATE TOPICS...HOME SELLING MARKET COOLS

AMERICANS' OUTLOOK ON THE HOME SELLING MARKET COOLS Consumer attitudes toward the home selling environment stumbled last month despite positive home price change expectations, according to results from Fannie Mae’s July 2015 National Housing Survey. Among those surveyed, the share of consumers who believe now is a good time to sell a home fell 7 percentage points to 45 percent, while those who believe it is a good time to buy dropped to 61 percent—an all-time survey low. The dip comes as more consumers reported a negative outlook regarding personal finances and the direction of the economy. The share of consumers saying the economy is on the wrong track rose by 3 percentage points to 54 percent in July. Additionally, those who expect their personal financial situation to improve over the next year fell to 44 percent, while those reporting a significantly lower income compared to 12 months ago increased to 15 percent—marking the first change in this indicator in three months.

Highlights from the survey include:

• The average 12-month home price change expectation rose to 3.0%.
• The share of respondents who say home prices will go up in the next 12 months rose to 49 percent, while the share who say home prices will go down rose to 8 percent.
• The share of respondents who say mortgage rates will go up in the next 12 months rose 1 percentage point to 51 percent.
• Those who say it is a good time to buy a house fell to 61 percent - an all-time survey low, while those who say it is a good time to sell fell to 45 percent.
• Those who think it would be easy to get a mortgage fell to 48 percent, while those who think it would be difficult rose to 49 percent, the first time that more think it would be difficult since October.
• The share who say they would buy if they were going to move rose 1 percentage point to 65 percent, while the share who would rent decreased to 28 percent.

BECOME A CALIFORNIA REAL ESTATE AGENT...CLICK LOGO TO VIEW OUR LIVE LECTURE SCHOOL
BECOME A CALIFORNIA REAL ESTATE AGENT