Economic Worries Still Dragging Down Housing Market, Fannie Mae Says

June 9, 2014
Los Angeles Times 
mortgage lending news
A new survey from Fannie Mae indicates that 57 percent of respondents believe the economy is moving in the wrong direction. The May poll also reveals that 68 percent of respondents think now is a good time to buy a home, and an all-time high of 43 percent of respondents believe now is a good time to sell a home. Moreover, 48 percent believe home prices will rise during the next year, down from 50 percent in April, and 7 percent expect prices to fall, up from 5 percent over the same period.

"This year's spring and summer buying season has gotten off to a slow start, even as mortgage rates have trended lower over the last two months," says Fannie Mae chief economist Doug Duncan. "Our national housing survey data show that economic conditions continue to be the top concern among consumers who think it's a bad time to buy or sell a home."

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