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The level of optimism for the housing market in the U.S. for the fourth quarter of 2014 is at its highest level as it has been at any point during the recovery, according to a recent survey conducted by Trulia. The majority of American adults surveyed for Q4 said they expect all five real estate activities – selling a home, buying a home, getting a mortgage to buy a home, getting a mortgage to refinance a home, and renting a home – to be better in 2015 than they were in 2014.
According to Trulia, 36 percent of respondents said 2015 would be much better or a little better for selling a home, compared to 16 percent who said they believe the coming year will be much or a little worse. The percentage of respondents who answered much or a little better was higher than the percentage of those who said much or a little worse in all five categories. Of those surveyed, 74 percent said that home ownership was part of the American Dream, tying its post-recession high set in Q4 2013 and slightly higher than the percentage who felt the same way in the previous three years.
Federal Reserve officials released on Wednesday their final summary of economic conditions in 2014, ending the year on an upbeat note with reports of continued growth. In its latest Beige Book—a catalog of economic reports from contacts across all 12 Fed districts—the central bank noted that "national economic activity continued to expand in October and November." Missing from the latest phrasing is the Fed's usual qualifier, which typically describes growth as "modest to moderate."
