Consumer Confidence in the Chicago Real Estate Market on the Rise

October 18, 2012

consumers confident in chicago real estate marketAccording to Fannie Mae’s September 2012 National Housing Survey, Americans’ optimism about real estate and the housing market continued to climb. In addition to more positive attitudes about the national and Chicago real estate market, consumer confidence about the economy greatly improved last month.

19 percent of all survey respondents said that now is a good time to sell a home. While this number may not seem like a lot, it is the highest level since June 2010. 69 percent of survey respondents stated that if they needed to move for any reason in the next few months, they would buy a home instead of rent.

As far as the economy in general is concerned, 41 percent of consumers believe the economy is on ‘the right track’ which is also the highest reading since June 2010. Earlier this week, we reported that the housing market has been positively affecting economic growth as of late.

The results of the Fannie Mae survey are just another example of how consumers and real estate professionals are expecting the housing market to strengthen as we head into 2013.

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Jessica Thom

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