Consumer confidence in the housing market has trended upward significantly during the recovery but continues to be less than needed to reutn to "normal" housing levels according to results from Fannie Mae's June 2014 National Housing Survey.
On average, consumers' 12 month home price change expectation remained in positive territory in June at 2.4% but dipped slightly from the previous few months, likely in response to a lackluster housing picture in the first half of the year.
Many consumers believe mortgage rates will go up in the next year. Consumers appear positive overall but market indicators reflect a more subdued housing market, underscroing that the recovery continues but is not yet robust.
Normal residential housing levels are not expected before the end of 2016. Real Estate markets are local, contact me today to find out the latest on your home's value and what current market conditions are in our neighborhood.
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