PORTLAND, OR , Jan. 7, 2014 (RISI) -
According to Fannie Mae's December National Housing Survey, 49% of consumers surveyed believe home prices will rise over the next 12 months, compared to 43% in December 2012. Consumers' average 12-month home prices expectations moved to 3.2%, up from 2.6% last year. Those who say it's a good time to sell a home rose to 33% from 21% in December 2012.
Despite a higher mortgage interest rate environment, consumers are more optimistic about their access to mortgage credit than they were a year ago, with those who say that it would be easy to get a home mortgage today rising to 50%, compared to 45% last year.
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