Americans Expect Rising Prices, Say It’s Time To Buy

Fannie Mae’s March 2012 National Housing Survey finds Americans more confident in their financial situation and more optimistic about the housing market than in previous months. According to the monthly survey, 73 percent of respondents say now is a good time to buy a home, which is up three points from February and at its highest level in more than a year. Doug Duncan, vice president and chief economist of Fannie Mae, said conditions are coming together to encourage people to want to buy homes. Rising rent and an expectation of higher home prices are among the conditions making homeownership more and more attractive to Americans. The number of participants who say they expect rental prices to rise over the next year is at its highest level ever recorded. And the number expecting an increase in home prices over the next 12 months is up five percent from March. Also, only 12 percent say they expect their financial situation to get worse over the next year, which is tied for the lowest level to date. More here and here.