The MReport Webcast: Monday 8/10/2015

With more Americans worried about where the economy is headed, fewer are optimistic about the prospect of selling their homes, according to Fannie Mae’s July National Housing Survey released Friday. The report found that consumer attitudes toward selling stumbled last month despite a recent flurry of optimistic projections about the U.S. housing market in general. In the past week, Metrostudy reported that new starts should top 1.07 million by year’s end.

Despite these reports, however, overall seller confidence dropped by 7 percent in July. The report found that only 45 percent of Americans surveyed think it’s a good time to sell, and an all-time low of 61 percent believe it’s a good time to buy. Fannie Mae chief economist Doug Duncan said the dip comes as more consumers worry about personal finances and the direction of the economy. The share of consumers saying the economy is on the wrong track rose by 3 percent up to 54 in July, and the number of people who expect their personal financial situations to improve over the next year fell to 44 percent.

In the single-family 55+ housing market, builder confidence remains positive for the second quarter of 2015 with a reading of 57, according to the National Association of Home Builders' 55+ Housing Market Index. Despite a one-point drop in the previous quarter, this marks the fifth consecutive quarter that the index has been above 50. NAHB chief economist David Crowe said although builders in the 55+ sector remained positive, many builders are being cautious as lot availability and skilled labor shortages remain a challenge.