Fannie Mae’s March national housing survey showed that 58 per cent of those polled think the economy is on the wrong track. This was up 5 percentage points from the previous month.
And 21 per cent said they expect their personal finances to get worse in the next 12 months. This is up from just 17 per cent last month.
But, “consumer confidence in the housing recovery remains firm in the face of budget sequestration and other fiscal policy concerns,” according to the press release. “Although more Americans indicate greater pessimism regarding their personal finances and the economy, they continue to demonstrate optimism across key housing market measures.”
48 per cent continued to believe that home prices will increase over the next year.
The 12-month home price change forecast however fell to 2.7 per cent in March, from 2.9 per cent the previous month.