According to Fannie Mae’s most recent monthly survey, the upward trend in housing market sentiment has continued. Respondents in its January survey believe home prices will rise by 1 percent over the next year, an improvement over the 0.8 percent gain predicted in December. Additionally, 44 percent of those responding to Fannie Mae’s survey expect their personal financial situation to improve over the next year, up from 40 percent who felt that way the month prior.
Other recent reports support an improving housing industry and economic outlook:
The National Association of Realtors said total existing-home sales rose 5.9 percent in the fourth quarter of 2011, and were 9.2 percent above the fourth quarter of 2010.
Homebuilder optimism was up in February for the fifth straight month, according to the NAHB/Wells Fargo Housing Market Index.
The Mortgage Bankers Association said that mortgage delinquencies dropped to the lowest level in three years during the fourth quarter.
New applications for unemployment benefits dropped to the lowest level since March 2008, a sign that the labor market is on the mend.
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