Morning Minute: Majority of consumers and REALTORS® expect home prices to rise

Ask consumers and REALTORS® where they think home prices will be heading in the next 12 months and the majority of both agree on the same answer — up.

Two recent surveys — the Fannie Mae April 2013 National Housing Survey and the March REALTORS® Confidence Index (RCI) Survey — showed growing confidence in home prices.

For the first time in three years, the majority of consumers (51 percent) polled by Fannie Mae said they expect home prices to climb in the next 12 months. At the same time, 94 percent of REALTORS® surveyed by the National Association of REALTORS® said they expect constant or increased prices over the same period.

“For the first time in the survey’s three-year history, the majority of Americans surveyed now expect home prices to increase,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “Crossing the 50 percent threshold marks a significant milestone as most Americans believe a housing recovery is truly occurring throughout the country.

This entry was posted in Housing Market, Uncategorized by Stephanie Sievers. Bookmark the permalink.

About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.

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