July 8, 2014 – Fannie Mae’s June 2014 National Housing Survey found that consumer confidence in the housing market has gone up during the recovery, but not enough to achieve “normal” housing levels.
“Since we began collecting monthly National Housing Survey data in June 2010, we’ve seen substantial progress in consumer home price expectations and other key attitudinal measures as the housing recovery gained its footing,” said Doug Duncan, senior vice president and chief economist at Fannie Mae, in a statement. “Still, we do not expect to see ‘normal’ levels of new residential construction, in the region of 1.6 million new housing units per year, before the end of 2016, our original projection. Such a feat would require a pace of growth in housing starts not seen in decades.”Survey highlights include:
Duncan will speak at a session on national and global economic trends titled “Private Forces Move to the Fore” at NAFCU’s Annual Conference and Solutions Expo, slated July 22-26 in Las Vegas.