Housing Market: Is the Economy Holding It Back?
According to Fannie Mae, concerns about the economy and household income are slowing growth in the housing market. This is based on the results of a recent survey conducted by the mortgage giant.
The May survey showed 57 percent of respondents believe the economy is not headed in the right direction which is the same as the previous month's survey. Only 21 percent of the participants reported their income was higher than last year. This is a drop from 25 percent from the April survey.
According to Fannie Mae's news release about the survey, participant's attitudes toward housing have been generally positive but their reluctance to enter the home buying or selling market as kept activity below typical seasonal trends.
The Fannie Mae National Housing Survey data indicates economic conditions continue to be the top concern among consumers who think it's a bad time to buy or sell a home. While recent housing activity suggests that the worst of the housing slump may be behind us, this caution among consumers supports the expectation the rebound in home sales will likely be too small for 2014 sales to exceed the previous year.
For more information on the survey follow this link (pdf file): May 2014 National Housing Survey Data Release .
Our first half of 2014 has been busy but we have recently seen some sluggishness in the market with a number of listings not getting the activity level we anticipated. In addition we have seen some clients who initially wanted to sell an existing home and more to a larger or home in a different neighborhood, pull back and now are waiting to make these moves. We have attributed some of this to the economy and the larger number of homes currently on the market.
If you have any questions about buying or selling a home and if this is the right time, feel free to give me a call at the MagnumOne Realty office in Roseville (916-899-6571) or send me an email to email@example.com.
Julie Jalone, wife and mother living in Rocklin, is an experienced professional Realtor ® serving
the Greater Sacramento area including Placer, El Dorado, Yolo and Yuba counties.
Julie may be reached online at www.jalone.com or by calling (916) 276-6883
Check out her daily web blog: Keep it Real in Sacramento
Placer County News Headlines$96,000 Raised for Fallen Officers with Help of Dutch Bros.On Wednesday, October 29, Dutch Bros. Coffee owners in the Sacramento area banded together with the community to raise $96,697 to support the families of Sacramento Sheriff Deputy Danny Oliver and Placer County Sheriff's Detective Michael David Davis Jr.
Roseville Police Seek Suspect in Halloween Crime61-year-old Daniel Rosario is being sought by Roseville police in connection with an early-morning burglary, car theft and attempted assault on an officer
Roseville, Rocklin Among Top Choices for Young FamiliesRoseville and Rocklin are ranked among the top 10 places in Northern California for young families according to a NerdWallet report
Kings, Sacramento Community Break Ground on Arena Marking the culmination of a decade-long effort to build a new arena in Sacramento, today the community officially celebrated the groundbreaking of the new downtown Entertainment and Sports Center (ESC).
Roseville Hit and Run Reward OfferedRoseville Crime Stoppers is offering a $500 reward for information leading to the arrest of a wrong-way driver who crashed into another car and then fled the scene
Free Alzheimer's Caregivers Workshop at UC DavisOnline registration begins Nov. 4 for the UC Davis Mini Medical School, a series of Saturday classes ideally geared for foresighted middle-agers and novice seniors
Roseville California Crime Brief (10.29.14) Crime brief update report for Roseville, California October 29, 2014.
Halloween Safety TipsCostumes, jack-'o-lanterns, haunted house and scary ghost stories mark this time of year as all kids of all ages enjoy the spirit of Halloween
Memorial for Slain Officer to be Held in RosevilleThe memorial service for Detective Michael Davis, who was killed in the line of duty will be held Tuesday, November 4, 2014, at 10:00 a.m. at Adventure Christian Church
2,400 Volunteers Turn Out in Rocklin for Annual EventMore than 2,400 volunteers packed 520,992 meals for malnourished children around the world at a three-day event at William Jessup University in Rocklin.
Sinking Gas Prices Won't Last The U.S. average price of gasoline ($3.03/gal) continues its slide to levels last seen in December 2010... and today, more than one-half of the nation's gas stations offer regular
Dutch Bros. to Raise Funds for Fallen Officers' Families Dutch Bros. Coffee owners in the Sacramento area are raising funds to support the families of Sacramento Sheriff Deputy Danny Oliver and Placer County Sheriff's Detective Michael David Davis Jr.