3 Bedrooms | 2 Bathrooms | More Than 2,000 Sq. Ft. | Fenced Backyard | Optional Boating AccessPresented by Michael Downer, Broker Associate | Downing-Frye Realty | Quintessential NaplesMore Space,
Dated: October 20 2022
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Each month, Fannie Mae asks Americans how they feel about the housing market, mortgage rates, prices, and whether it’s an excellent time to buy or sell a home. Their monthly survey is a good gauge of what’s happening in today’s market and what’s ahead for buyers and sellers. In August, survey results were mixed. For example, the number of respondents who said it’s an excellent time to buy a house improved from July, rising 8 percent month-over-month. But while purchasing sentiment improved, it was balanced by a decline in the number of participants who said it was an excellent time to sell.
Survey respondents also said they think mortgage rates will fall over the next 12 months but split over what will happen to home prices. Doug Duncan, Fannie Mae’s senior vice president and chief economist, says the change in price expectations was significant. “The share of consumers expecting home prices to go down over the next year increased substantially in August,” Duncan said. “We also observed a large decline in consumers reporting high home prices as the primary reason for it being a good time to sell a home, suggesting that expectations of slowing or declining home prices have begun to affect selling sentiment negatively.”
The MikeDowner.com website is the most comprehensive online source for Southwest Florida real estate information and services. Whether you are looking for the latest sales, trends, or homes for sale in Collier, Lee, Charlotte, or Broward Counties in Florida, Mike Downer and Coldwell Banker Realty have it all at your fingertips. Browse information regarding short sales, foreclosures, new construction, investment property, land sales, or commercial locations throughout Southwest Florida at www.MikeDowner.com or call Mike at 239-722-6453. #homesforsale#mortgage#realestate
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