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Consumer Attitude Toward Housing Brightens
Posted on March 7, 2012 by Mark Dotzour
Every month Fannie Mae surveys American consumers about their attitudes toward housing. Responses in the January survey showed nascent glimmerings of hope for the single-family housing market.
Americans expect home prices to increase 1 percent in the next 12 months. This is a huge turnaround. For most of last summer, Americans expected home prices to continue to fall.
51 percent thought home prices would stay the same.
28 percent thought prices would increase.
Just 16 percent thought prices will fall.
A huge majority of Americans report now is a good time to buy a house. This is why investor demand for single-family houses is so strong. People perceive that houses can be bought at a very attractive price. Conversely, sellers have the same perception. They aren’t so enthusiastic about the prospects of selling right now.
Transaction volume is likely to stay muted until people feel that now is a good time to sell as well as to buy. Until this changes, current owners are likely to stay where they are and postpone the next move up.
71 percent think now is a good time to buy a house.
10 percent think now is a good time to sell a house.
Americans expect rental rates to increase 3.2 percent in the next year. This is about the same as last year. As rental rates continue to increase each year, the urge to buy a house to avoid future rent hikes will increase.
Fully 64 percent of American consumers said that if they were going to move, they would buy a house. Only 30 said they would rent. The other 6 percent must be planning on camping or moving back home with their parents.
Fannie Mae conducted the survey from Jan. 9 to Jan. 27.
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News from Rowlett:
American Realty Capital picks up Rowlett shopping center for $22M
Dallas Business Journal by Candace Carlisle, Staff Writer
Date: Monday, March 12, 2012, 2:51pm CDT
Related: Commercial Real Estate
Reliant Rehabilitation Hospital bought by New York REIT
American Realty Capital buys Dallas rehabilitation hospital
Canadian investor acquires Lincoln Square for $70M
UCR partners with moodyrambin retail in Houston
Lowered property value leads to court fight
Staff Writer – Dallas Business Journal
New York-based American Realty Capital-Retail Centers of America, Inc. — a publicly registered, non-traded real estate investment program — plans to acquire Liberty Crossing Shopping Center for $22.2 million.
The 105,861-square-foot shopping center in Rowlett is 95 percent leased.
Liberty Crossing has 16 tenants, such as Ross Stores , PetSmart , and Dollar Tree . The three tenants have long-term leases and represent about 40 percent of the net operating income from the property.
The company’s stockholders can expect distributions, as a result of the acquisition, about 30 days after the acquisition is final, officials said.
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