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Fannie survey: Housing recovery fading

  • Those who say it is a good time to sell a house increased to 43%, a new all-time high, says Fannie Mae (FNMA -0.4%) in its May National Housing Survey. Those who say it's a good time to buy dipped a bit to 68%.
  • "Consumers’ lukewarm income expectations and reticence about the economy seem to be holding back housing demand," says Fannie chief economist Doug Duncan. "This year’s spring and summer home buying season has gotten off to a slow start, even as mortgage rates have trended lower over the past two months ... The rebound in home sales will likely be too modest to pull sales for all of 2014 ahead of last year."
  • Speaking to Duncan's remarks: Those who say their household income is significantly higher than a year ago fell four points to 21%.
  • Homebuilder ETFs: XHB, ITB, PKB
Comments (9)
  • Patent News
    , contributor
    Comments (1321) | Send Message
     
    surveys may not be as useful as actual results and sales...
    9 Jun, 01:20 PM Reply Like
  • Overanalytical
    , contributor
    Comments (793) | Send Message
     
    Agreed. This is the result of people craving data.
    9 Jun, 01:22 PM Reply Like
  • caupachow
    , contributor
    Comments (415) | Send Message
     
    Only reason my household income is up is because one employee moved to Kentucky and I fired a lazy one. $5,000 a month raise for me. Business is slow so no need to replace them; yet. I am hoping for improved growth in 2 to 3 years from now. :)
    9 Jun, 01:39 PM Reply Like
  • evan.prospect
    , contributor
    Comments (694) | Send Message
     
    Be thankful you don't live in Seattle where you will be mandated to pay them $15 / hour and offer paid sick leave no matter what! I hope that top-down mandate from their local government doesn't infect more of the nation.

     

    I reject Socialism (Bernie Sanders), I reject Fascism, and I reject Crony Capitalism (Solyndra).

     

    Capitalism Or Death!
    9 Jun, 04:23 PM Reply Like
  • caupachow
    , contributor
    Comments (415) | Send Message
     
    keep fighting the good fight evan.prospect.
    9 Jun, 04:32 PM Reply Like
  • jj1937
    , contributor
    Comments (1576) | Send Message
     
    No recovery until housing recovers. Fannie needs to loosen up.
    9 Jun, 05:12 PM Reply Like
  • Buckoux
    , contributor
    Comments (6338) | Send Message
     
    "This year’s spring and summer home buying season has gotten off to a slow start, even as mortgage rates have trended lower over the past two months".

     

    That's because unemployment is still too high, mortgage interest rates are still too low and existing home prices are still too high. When interest rates rise to cross lower unemployment, house prices will become more reasonable, sales will rise and a real recovery will begin. Until then.....
    9 Jun, 04:42 PM Reply Like
  • june1234
    , contributor
    Comments (2699) | Send Message
     
    the last 5 weeks of dropping mtg apps aren't helping
    9 Jun, 07:58 PM Reply Like
  • mr clark
    , contributor
    Comments (635) | Send Message
     
    home prices too high mostly
    sure theyre cheap in Indiana, but where the population centers are your looking at 8-10X avg household income for a tear down
    9 Jun, 10:41 PM Reply Like
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