As Job Worries Fade, Housing May Heat Up

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The number of Americans who say they’re worried about losing their job hit an all-time low in June, according to the results of a new survey from Fannie Mae. And this, along with an overall upward trend in consumer confidence, could indicate that the residential real-estate market may be ready to heat up after a slow start to the year. In fact, 70 percent of Americans now say it is a good time to buy a house and the share who say they would buy if they were going to move increased to 68 percent in June. Respondents also feel it’d be easy for them to obtain a home mortgage, with a survey high 52 percent saying they felt they would be approved for a home loan. Doug Duncan, Fannie Mae’s senior vice president and chief economist, said there’s been substantial progress in consumer expectations among key attitudinal measures since the National Housing Survey began in 2010. According to Duncan, recent improvements in Americans feelings about the broader economy and their personal financial situation may help encourage potential home buyers to enter the purchase market this year. More here.