Americans Maintain Confidence in Housing and the Economy

Real Estate Growth

The economic and housing out look is good in the minds of most Americans according to the National Association of Realtors’ first-quarter Housing Opportunities and Market Experience (HOME) Survey. 62 percent of the respondents feel that the economy is improving as compared with 48 percent a year ago.

Despite rising mortgage rates 77 percent of Westerners responding feel that now is a good time to sell a home and, some what surprisingly, 61 percent of Westerners still believe it is a good time to buy.

Statistics show that mortgage applications are down 11 percent on an annual basis and experts believe that the Federal Reserve’s intention to raise interest rates at least twice more this year will continue to limit loan activity while worsening already difficult affordability conditions.