According to Fannie Mae’s most recent monthly survey, real estate has continued to improve and people are noticing. More than half of respondents to the April survey believe home prices will rise within the year. This compares to only 32 percent who expected home prices to increase in April 2012, and Fannie Mae’s chief economist says it indicates that “most Americans believe a housing recovery is truly occurring.” Additionally, 30 percent of respondents said now is a good time to sell, compared to 15 percent last year.
Other recent reports support an improving housing industry:
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Pending home sales increased in March and remain above year-ago levels for the 23rd consecutive month, according to the National Association of Realtors (NAR).
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NAR also reported that existing-home sales in March were 10.3 percent higher than in March 2012.
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Home values increased by the largest year-over-year amount since March 2006, according to the latest data from CoreLogic’s housing report.
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According to NAR, national median home prices rose in the first quarter, showing the best year-over-year results in more than seven years.
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The Mortgage Bankers Association said that mortgage applications for home purchases moved up to their highest level since May 2010.
