Fannie Mae report: Americans less confident in housing market

A survey by Fannie Mae showed that Americans’ confidence in the housing market dropped during the third quarter of 2010, according to a report by the Wall Street Journal. The survey, which polled 3,417 households in July, August and September, indicated that 85 percent think it is a bad time to sell a home, two percent higher than in June. Sixty-eight percent of those surveyed think it is a good time to buy a home, down two percent from June, while 29 percent think it is a bad time to buy, up three percent from June.

The survey also showed that fewer Americans believe that housing prices or interest rates will go up in the next year. Fifty-seven percent said that it is currently hard to get a mortgage, three percent higher than in June.

To see the complete survey results, visit Fannie Mae’s website.