Destin, FL – September 7, 2011 – (RealEstateRama) — Volatility in the stock market has diminished confidence in the U.S. housing market from recovering any time soon for the large majority of Americans, according to a new Housing Predictor survey.
Major swings and gyrations in financial markets, including the New York Stock Exchange, which has been experiencing 200 to 400 point daily swings for weeks have reduced confidence in the economy and sent consumer confidence to the lowest level since April 2009. The swings have had a major impact on the way people feel about real estate.
A lack of confidence in the U.S. housing market keeps new home buyers sidelined, slows homeowners from making decisions about refinancing their mortgages, despite new record low mortgage rates and weakens the overall economy. Visit Housing Predictor for full details on the just released opinion poll.
Housing Predictor tracks more than 230 local housing markets in all 50 U.S. states, forecasts markets across the country and keeps visitors up to date on real estate news and mortgage rates.