A new survey conducted by Fannie Mae has revealed that Americans continue to look at the housing market with a cautious outlook.
The news comes despite the fact that consumers continue to become increasingly more comfortable with the state of the economy.
“Despite consistent and robust job growth in recent months, consumer attitudes toward housing remained cautious in the final month of 2014,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “Our survey results show that consumer housing sentiment has, on average, been moving sideways amid some improvement in the general view of the economy. It is not surprising that the housing sector continues to lag behind the rest of the economy given the long-term financial commitment that getting a mortgage represents. Many prospective homebuyers want to be certain that their personal finances can withstand potential downside risks to the economy.”
Image via flickr/Henrique Pinto