Monday, June 9, 2014
"Americans' concerns about the direction of the economy and their household income appear to be weighing on housing growth, according to results from Fannie Mae's May 2014 National Housing Survey. The share of respondents who still believe the economy is headed in the wrong direction remained at 57% last month, and those who said their household income is significantly higher than it was at the same time last year decreased by 4% to 21%. Although respondents' attitudes toward housing have been generally positive during the past few months, their reluctance to enter the home buying or selling market has restrained activity below typical seasonal trends. These are likely the reasons some potential homebuyers are returning to the wait and see attitude that helped squash the market in 2011 and 2012."