The majority of Americans are either unwilling or uncertain about moving out of their homes, according to new data published by the Federal Housing Finance Agency (FHFA) and the Consumer Financial Protection Bureau (CFPB).
The data, which was collected through the National Survey of Mortgage Originations, found 50% of respondents said they were unwilling to move, while 20% were unsure about moving. On the flip side, 25% of survey respondents said they were willing and able to move and 5% were willing but unable to move.
As for the survey respondents who were looking for new residences, 70% said they were very satisfied with their property appraisal and 23% reported being somewhat satisfied. Only 6% said they were not at all satisfied with their appraisals.
“This year’s survey provides new insights into appraisal satisfaction and willingness to move for borrowers with new mortgages,” said Jason Brown, CFPB assistant director for research. “With the release of the public use file, we invite researchers to help us understand the challenges facing consumers and help us to find ways to improve the market for consumers.”
Photo: Standret / iStock
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