Spring could be a good time to purchase a home

As economic and housing conditions continue to create an ideal environment for prospective homebuyers, a recent survey from a government-sponsored enterprise indicates that many Americans might try to purchase property in 2012.

As economic and housing conditions continue to create an ideal environment for prospective homebuyers, a recent survey from a government-sponsored enterprise indicates that many Americans might try to purchase property in 2012.

According to the survey, conducted by Fannie Mae, many consumers anticipate there to be a surge in both rental and home prices in the near future, making now the ideal time to buy a home.   

"Conditions are coming together to encourage people to want to buy homes," said Fannie Mae vice president and chief economist Doug Duncan. "Americans' rental price expectations for the next year continue to rise, reaching their record high level for our survey this month."

The survey noted that in March, 73 percent of those polled said that buying a home now is a good idea, which is a notable increase from February when only 70 percent of consumers shared a similar sentiment.

Meanwhile, consumer confidence in their personal finances also gained strength, as 44 percent said they had enough financial safety and soundness to afford the purchase of a home. However, despite the increase, 58 percent said they believe the national economy is still on the wrong track to recovery.



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