American consumers grew increasingly positive in July, according to results in Fannie Mae's National Housing Survey.
Undeterred by rising mortgage rates, the majority of consumers polled expressed belief that the market will continue to improve, with 53 percent saying they expect home prices will go up in the next year—though that figure does represent a decline of 4 percentage points from June’s high. The percentage of those expecting prices to drop fell to a survey low of 6 percent.
The average home price change expectation over the next 12 months increased slightly to 3.9 percent, matching the survey high first achieved in May.
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Undeterred by rising mortgage rates, the majority of consumers polled expressed belief that the market will continue to improve, with 53 percent saying they expect home prices will go up in the next year—though that figure does represent a decline of 4 percentage points from June’s high. The percentage of those expecting prices to drop fell to a survey low of 6 percent.
The average home price change expectation over the next 12 months increased slightly to 3.9 percent, matching the survey high first achieved in May.
To read more, click here.
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