Consumer Confidence in Home Prices Still on the Wane

The average consumer expects home prices to decline by at least 0.5 percent in the next 12 months, according to a new monthly consumer survey from Fannie Mae.

That forecast reverses the trend from May, when most consumers interviewed by the government-sponsored enterprise said that they expected at least a slight home price increase in the next year.

Those consumer revelations are part of the GSE's Monthly National Housing Survey, a reflection of consumer sentiment based on interviews with 1,000 Americans.