Print
EmailFannie Mae: Rising employment, spending could help home prices
Fannie Mae, Commerce Dept. surveys show progress toward end of 2011
New data from a Fannie Mae survey indicates that consumer confidence in the housing market continues to rise, largely thanks to reduced unemployment and increased income growth. According to the Wall Street Journal, Fannie Mae officials also warn that rising gas prices could be a potential drag on this predicted growth.
The survey in question, conducted in February, continued a modest upward trend in consumer confidence in home prices. Doug Duncan, chief economist for Fannie Mae, said that number has grown 19 percent since November 2011.
The Commerce Department released corresponding data on gross domestic product (GDP) in the same time period. Adjusted for inflation, statistics show 3 percent annual growth in the last three months of 2011, up from an earlier estimate of 2.8 percent.
As unemployment started to tick down at the end of 2011, Fannie Mae’s data shows Americans started spending more – personal consumption spending increased 2.1 percent in the fourth quarter. This was the most growth seen in three quarters.
Housing demand also increased in the fourth quarter, but roughly two-thirds of that demand was related to growing inventories.
More like this
- Fannie Mae: Americans’ attitude toward housing market worsens
- Fannie Mae: Homeownership aspirations still strong
- Fannie Mae report: U.S. woefully short on affordable rental housing
- 70 Percent of Americans Surveyed Tell Fannie Mae It's a Good Time To Buy a Home
- Fannie Mae tests foreclosure-prevention plan in Florida
Comments on: "Fannie Mae: Rising employment, spending could help home prices "
RELATED ARTICLES
After years in the wilderness, big builders are once again hot properties among investors. The overall numbers from this year’s Housing Giants help explain why.
Our list of the top U.S. home builders sorted by 2012 residential construction revenue.
18 contractors who were recognized also share a strong dedication to growing and advancing the roofing industry through results-oriented approaches and sustainable...
Search Our Buyer's Guide
Reference Library
Professional Remodeler’s annual Market Leaders list, which identifies the top...
With demand for custom design, remodeling, and renovations at its highest level since 2005, ...
Normandy Remodeling converts confined kitchen into sprawling galley.
Each year, the National Kitchen and Bath Association surveys its members to identify the latest...
Each year, the National Kitchen and Bath Association surveys its members to identify the latest...
