Fannie Mae: Americans' sentiment regarding housing market, economy rises in December

During the final month of 2011, Americans' confidence in various aspects of that nation's economy - chiefly among them the real estate market - improved modestly, Fannie Mae reports.

During the final month of 2011, Americans' confidence in various aspects of that nation's economy - chiefly among them the real estate market - improved modestly, Fannie Mae reports.

The December National Housing Survey shows 22 percent of the country's residents think the economy is on the right track - still a low figure, but 6 percentage points higher than the level from November.

Also, the report found that on average, Americans' project home prices will increase 0.8 percent during 2012, which marks a hike from November's national forecast of a 0.2 percent rise.

"There is marked improvement in consumer sentiment regarding the direction of the economy, personal finances, and future home price expectations," said Fannie Mae's vice president and chief economist, Doug Duncan. "This improvement is in line with the modest fourth-quarter pickup in the U.S. economy."

Another report relating to consumer confidence showed increased national sentiment to end last year. Bloomberg's Consumer Comfort Index rose to its highest reading in December since July of last year.



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