Fannie survey: Housing recovery fading

|About: Fannie Mae (FNMA)|By:, SA News Editor

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%.

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