According to Fannie Mae’s May 2012 National Housing Survey:
On average, Americans expect home prices to increase by 1.4 percent over the next 12 months, up 0.5 percentage points since March 2012 and the highest value yet recorded.
Thirty-four percent of respondents say that home prices will go up in the next 12 months, the highest level recorded since March 2011.
Forty-one percent of respondents expect home mortgage rates to go up in the next twelve months, a slight increase from last month.
The percentage of respondents who say it is a good time to buy increased by 1 percentage point to 72 percent, while the percentage of respondents who say it is a good time to sell remained at 15 percent.
On average, respondents expect home rental prices to increase by 4.1 percent over the next 12 months, a 0.5 percentage point increase versus last month and a return to the level seen in March.
Forty-nine percent of respondents think that home rental prices will go up, consistent with last month’s value and remaining the highest number recorded to date.
At 32 percent, the percentage of respondents who would rent if they were going to move is unchanged, while 63 percent would buy.
If you are interested in more information about your local neighborhood and what it is doing, let me know!
Jane Loveday
DRE # 01439083
Pacific Sothebys International Realty
619-519-1615 Cell
http://janeloveday.com
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