While a new year seems to spurt hope of optimism Fannie Mae's December National Housing Survey gives little hope for any significant change. The survey indicates Americans Are Still Luke Warm About The Housing Market, but gives some encouragement with consumers feeling more positive about this being a good time to purchase a home. With Americans feeling lukewarm about the outlook of the Housing Market for 2015, but feeling this is a good time to purchase a home, the survey presents a mixed message.
One thing for sure is consumers are still very uneasy about their jobs, and this uncertainty remains a major reason for potential home buyers to be very cautious about making long term major commitments like purchasing a home. Without consumers feeling more secure about their job, consumer confidence will remain cautiously optimistic in 2015.
The report also indicated 46% of those who responded to the survey felt home prices will rise in 2015. It will be interesting to see if the expectation of a rise in home prices will motivate potential homebuyers to act sooner rather than later. I for one remain a firm believer we will not see a sense of urgency on the part of homebuyers until the Mortgage Interest Rates begin to significantly rise.
2015 is starting off being an interesting year, and scheduled Mortgage Industry changes could make 2015 even more interesting. However, since Americans Are Still Luke Warm About The Housing Market, 2015 may not be as interesting as I would have hoped for.
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George Souto NMLS# 65149 is a Loan Originator who can assist you with all your #FHA, #CHFA, and #Conventional #mortgage needs in Connecticut. George resides in Middlesex County which includes #Middletown, #Middlefield, #Durham, #Cromwell, #Portland, #Higganum, #Haddam, #East Haddam, #Moodus, #Chester, #Deep River, and #Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com
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