Newsroom
April 19, 2022
New York Fed releases housing survey results; predicts household price rise in next year
The Federal Reserve Bank of New York released results Monday from its 2022 SCE Housing Survey, revealing that households expect home prices to rise at a faster pace than expected in the next year. The survey highlights the broad range of housing issues, reiterating how discouraged renters are. This survey is a part of the bank’s broader Survey of Consumer Expectations (SCE) which provides information on consumers’ housing-related experiences and expectations.
Some key findings from the survey include:
- rent change expectations were higher than home price expectations over both the short- and medium-term;
- households expect relatively low home value appreciation over the next five years;
- owners, especially renters, expressed a lower expectation of buying a home if they were to move over the next three years; and
- renters reported a marked decline in their expectations of ever owning a home.
Read the survey results. NAFCU will continue to monitor the housing market trends in the coming months. For more economic updates from NAFCU's award-winning research team, view all of NAFCU's Macro Data Flash reports.