According to a recent Fannie Mae survey, Americans believe home prices will decline by 1.1% in the next year. While the Housing Wire story depicts this as Americans remaining negative about housing, I see this as a slightly positive considering how much home values have fallen in each of the past 3 or 4 years. An expectation of a decline of 1.1% is almost negligible in my mind.
- Survey Finds a Gloomy Outlook on Home Prices (blogs.wsj.com)
- Fannie Mae: September Economics and Mortgage Market Analysis (michael-mcdevitt.com)
- Fannie Mae study shows pessimism growing about economy, home prices, and household fiances (jennstrathman.com)