Consumers See Firming Housing Prices

Washington, DC, Feb. 8, 2012 -- Consumer outlook for improving home prices rose again  in January, according to mortgage firm Fannie Mae.

Fannie Mae said respondents in its January survey predicted home prices will rise by 1% over the next year, up from the 0.8% gain forecast in December.

In addition, 30% of respondents said they believe the U.S. economy is on the right track, up from 22% in December. The percentage who said the economy is headed in the wrong direction fell to 63% of respondents, down six points.