MONTHLY NATIONAL HOUSING SURVEY

Fannie maes consumer attitudinal survey polls the adult general population of the u.s. to assess their opinions about home ownership, renting a home, and household finances.
Consumer Attitudes About Home ownersHip
On average, Americans expect home prices to decline by 0.5% over the next 12 months, down from an expected increase of 0.7% in May 2011 and 0.9% in June 2010. Twenty-two percent of respondents expect home prices to go up over the next 12 months (down by 6 percentage points since May), while 25% expect a decline in home prices (up by 6 percentage points since May 2011).

Average Home Price Level Expectation

Expected Home Price Change (Percent)
5 4 80 70 60 50 40 30 20 -0.5
Jun-10 Dec-10 Aug-10 Feb-11 Oct-10 Apr-11 Jun-11

Share of respondents who say home prices will in the next 12 months
Go Up (Percent) Go Down (Percent) Stay the Same (Percent)
47 31 18
Jun-10 Aug-10 Oct-10

(Percent)

2 1 0 0.9 0.4 1.0 0.7

(Percent)

56

49 49 49 29 28

25 17
Dec-10 Feb-11

25 22

-1

10 0

19 19
Apr-11

Significantly fewer Americans expect home mortgage rates to go up in the next 12 months the number is down by 9 percentage points since May and 15 percentage points since April.

The majority of respondents continue to believe that it is a good time to buy a home (69%), but only 11% think it is a good time to sell a home.

Share of respondents who say mortgage rates will in the next 12 months
80 70 60 50

Share of respondents who say it is a

80 70

Go Up (Percent) Go Down (Percent) Stay the Same (Percent)

51 53

Good Time to Buy (Percent) Good Time to Sell (Percent)

70 65

71 66

60

(Percent)

50 40 30 20 10 0 34 34 33 88 7

(Percent)

47 48 40 38

50 40 30 20 10 15 9 10 11 11

11

11

Jun-10

Dec-10

Jun-11

Dec-10

Jun-10

Feb-11

Aug-10

Aug-10

Feb-11

Oct-10

Oct-10

Fannie Mae National Housing Survey June 2011 Data Release. 2011 Fannie Mae.

Apr-11

Apr-11

July 7, 2011

Jun-11

Jun-11

69

Consumer Attitudes About Home rentAl

On average, Americans expect home rental prices to go up by 3.9% over the next year, the highest mark observed in the survey to date. Compared to June 2010, more respondents think that home rental prices will go up over the next 12 months (44% in June 2011 versus 39% in June 2010).
Share of respondents who say home rental prices will in the next 12 months
80

Average Rental Price Level Expectation

Expected Rental Price Change (Percent)
5 4 3.6 3.3 3.6 3.2 3.9

Go Up (Percent) Go Down (Percent) Stay the Same (Percent)

70 60 52

(Percent)

(Percent)

3 2 1 0

50 40 30 20 10

46 39

44 43

46

45

38

43 44

10

6
Dec-10 Aug-10 Feb-11 Oct-10

6
Apr-11

Jun-10

Dec-10

Aug-10

Feb-11

Oct-10

Apr-11

Jun-11

Jun-10

Consistent with previous months, 2 in 3 respondents say they would buy if they were going to move, while 3 in 10 say they would rent their next home.
Share of respondents who say they would if they were going to move
80 70 60
63

Buy (Percent) Rent (Percent)

66 66 66 66

(Percent)

50 40 30 20 10

33

30

29

30

31

Jun-10

Dec-10

Aug-10

Feb-11

Oct-10

Fannie Mae National Housing Survey June 2011 Data Release. 2011 Fannie Mae.

Apr-11

Jun-11

July 7, 2011

Jun-11

Consumer Attitudes About HouseHold FinAnCes

As in the previous three months, nearly 2 in 5 Americans expect their personal finances to improve over the next year, while fewer than 1 in 5 expect their personal financial situation to worsen. Compared to June 2010, fewer say their household income has declined (from 22% to 16% in June 2011).
Share of respondents who say their household income Is than it was 12 months ago
Significantly Higher (Percent) Significantly Lower (Percent) About the Same (Percent) 61 60 61 63

Share of respondents who expect their personal financial situation to over the next 12 months
80 70 60 Get Better (Percent) Get Worse (Percent) Stay the Same (Percent)

80 70 60 58

(Percent)

50 40 30 20 10 0

40

(Percent)

44

43 38

43

44 43

50 40 30 20 10 0 22 19 22 16
Dec-10 Aug-10 Feb-11 Oct-10

4039 38

21 21 20 19 17 16
Jun-11

15
Jun-10 Aug-10 Oct-10

18
Dec-10 Feb-11

16 17 18
Jun-11 Apr-11

Jun-10

Similar to the past three months, almost 2 in 5 (37%) report significantly higher household expenses.

In June, the income gap vs. 12 months ago remained the same (+4 percentage points) as in May, while the expense gap vs. 12 months ago increased by one percentage point since May. Compared to March, the expense gap has declined by 10 percentage points.

Share of respondents who say their household expenses are than they were 12 months ago
Significantly Higher (Percent) Significantly Lower (Percent) About the Same (Percent)
55 55 33 31 13 11 53

Income and Expense Gaps (% Higher or %Lower vs. 12 months ago)

80 70 60

80 70 60 50 40 30 20 10
Jun-10

Income Gap Expense Gap

(Percent)

(Percent)

48 50 40 38 11 11

50 40 30 20 10 0 18 -3
Jun-10 Aug-10 Oct-10

Apr-11

37 9

22

29

27 28 4

-6
Dec-10 Feb-11

Dec-10

Aug-10

Feb-11

Oct-10

Jun-11

Fannie Mae National Housing Survey June 2011 Data Release. 2011 Fannie Mae.

Apr-11

Apr-11

July 7, 2011

Jun-11

-10

Fannie mae national Housing survey

June 2011 APPENDIx

About the survey

The Fannie Mae National Housing Survey polled a nationally representative sample of 1,000 respondents aged 18 and older between June 1, 2011 and June 28, 2011. Findings were compared to the same survey conducted monthly beginning June 2010. Interviews were conducted by Penn Schoen Berland, in coordination with Fannie Mae. The statistics in this release are estimated from sample surveys and are subject to sampling variability as well as nonsampling error, including bias and variance from response, nonreporting, and undercoverage. Expected price changes are calculated by creating an average of all responses, using a 0% change for those who said prices would stay the same, and excluding outliers beyond two standard deviations. All figures are shown in percentages, except where otherwise stated. June Audience size: General population (n=1,000) Average home price level expectation
% June 2010 July 2010 August 2010 September 2010 October 2010 November 2010 December 2010 January 2011 February 2011 March 2011 April 2011 May 2011 June 2011 0.9 0.3 -0.0 0.4 0.4 0.4 0.4 1.0 0.9 0.9 0.9 0.7 -0.5

margin of error: 3.1%

share of respondents who say home prices will go up, go down, or stay the same in the next 12 months
% Go up June 2010 July 2010 August 2010 September 2010 October 2010 November 2010 December 2010 January 2011 February 2011 March 2011 April 2011 May 2011 June 2011 31 27 24 25 26 26 25 29 31 32 29 28 22 % Go down 18 24 19 22 22 18 17 16 15 20 19 19 25 % stay the same 47 45 54 49 48 52 56 50 51 44 49 49 49
July 7, 2011 4

Fannie Mae National Housing Survey June 2011 Data Release. 2011 Fannie Mae.

share of respondents who say mortgage rates will go up, go down, or stay the same in the next 12 months
% Go up June 2010 July 2010 August 2010 September 2010 October 2010 November 2010 December 2010 January 2011 February 2011 March 2011 April 2011 May 2011 June 2011 50 47 46 45 48 51 51 46 51 50 53 47 38 % Go down 11 12 13 12 12 11 11 7 7 7 8 7 8 % stay the same 34 38 38 38 35 34 34 41 38 38 33 40 48

share of respondents who say it is a good time to buy, and share of respondents who say it is a good time to sell
% Good time to buy June 2010 July 2010 August 2010 September 2010 October 2010 November 2010 December 2010 January 2011 February 2011 March 2011 April 2011 May 2011 June 2011 70 66 69 69 68 66 65 68 67 68 71 66 69 % Good time to sell 15 14 13 9 11 10 8 10 10 12 10 11 11

Average rental price level expectation

% June 2010 July 2010 August 2010 September 2010 October 2010 November 2010 December 2010 January 2011 February 2011 March 2011 April 2011 May 2011 June 2011 3.6 2.9 2.4 3.1 2.9 2.8 3.3 3.3 3.2 3.1 3.2 3.6 3.9
July 7, 2011 5

Fannie Mae National Housing Survey June 2011 Data Release. 2011 Fannie Mae.

share of respondents who say home rental prices will go up, go down, or stay the same in the next 12 months
% Go up June 2010 July 2010 August 2010 September 2010 October 2010 November 2010 December 2010 January 2011 February 2011 March 2011 April 2011 May 2011 June 2011 39 38 36 36 38 40 38 40 43 46 43 46 44 % Go down 10 12 9 8 8 7 6 6 7 6 6 5 6 % stay the same 46 44 51 52 50 47 52 49 47 43 44 43 45

share of respondents who say they would buy or rent if they were going to move
% buy June 2010 July 2010 August 2010 September 2010 October 2010 November 2010 December 2010 January 2011 February 2011 March 2011 April 2011 May 2011 June 2011 63 64 62 60 62 63 66 68 68 64 66 66 66 %rent 33 32 32 33 33 33 30 28 28 31 29 30 31

share of respondents who expect their personal financial situation to get better, get worse, or stay the same over the next 12 months
% Get better June 2010 July 2010 August 2010 September 2010 October 2010 November 2010 December 2010 January 2011 February 2011 March 2011 April 2011 May 2011 June 2011 44 41 41 41 42 40 38 44 43 37 40 39 38 % Get worse 15 18 16 16 18 14 18 12 13 21 16 17 18 % stay the same 40 40 42 40 40 44 43 42 42 40 43 44 43
July 7, 2011 6

Fannie Mae National Housing Survey June 2011 Data Release. 2011 Fannie Mae.

share of respondents who say their household income is higher, lower, or about the same compared to 12 months ago
% Higher June 2010 July 2010 August 2010 September 2010 October 2010 November 2010 December 2010 January 2011 February 2011 March 2011 April 2011 May 2011 June 2011 19 21 17 18 20 22 16 21 20 19 21 21 20 % lower 22 22 22 23 21 16 22 20 20 20 19 17 16 % About the same 58 56 60 59 58 60 61 58 58 60 60 61 63

share of respondents who say their household expenses are higher, lower, or about the same compared to 12 months ago
% Higher June 2010 July 2010 August 2010 September 2010 October 2010 November 2010 December 2010 January 2011 February 2011 March 2011 April 2011 May 2011 June 2011 31 34 35 34 33 34 33 37 37 46 40 38 37 % lower 13 12 10 10 13 12 11 10 11 8 11 11 9 % About the same 55 54 55 56 54 52 55 52 51 45 48 50 53

income and expense Gaps (% Higher or % lower vs. 12 months ago)

income Gap June 2010 July 2010 August 2010 September 2010 October 2010 November 2010 December 2010 January 2011 February 2011 March 2011 April 2011 May 2011 June 2011 -3 -1 -5 -5 -1 6 -6 1 0 -1 2 4 4 expenses Gap 18 22 25 24 20 22 22 27 26 38 29 27 28
July 7, 2011 7

Fannie Mae National Housing Survey June 2011 Data Release. 2011 Fannie Mae.