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Latest Economic Well-Being Report Released

Posted in Industry News

Latest Economic Well-Being Report Released

The Federal Reserve Board recently released its latest report detailing the current economic well being of U.S. Households, according to a new article from the National Association of Home Builders (NAHB). Compiled from results from the Board’s 2013 survey of households on matters like housing and living arrangements, household finances, retirement, student loan debt and health expenses.

After culling through the data, the Board found that 46 percent of households thought their home’s overall value was lower than it was in 2008. The recent boom and bust in the housing market was marked in the results, but a continued recovery was highlighted as well.

Further signs of a rebound or stabilization in home prices were also seen in survey responses concerning expectations in home prices in the next 12 months. Over the coming year, 40 percent of homeowners surveyed expected home values in their neighborhood to increase, while 37 percent thought prices would stay roughly the same. Only 8 percent of responders thought home values near them would decrease.

Read the full article from NAHB here.

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