Only 19% of Consumers Think Now is a Good Time to Buy a Home
Affordability Constraints Mount as Mortgage Rates and Home Prices Continue to Rise.
Every month Fannie Mae conducts a National Housing Survey to gather consumer sentiment on the housing market. In April, only 19% of Consumers thought now was a good time to buy a home down from 25% the month before. Fannie Mae’s Home Purchase Sentiment Index (HPSI) decreased as well as consumers raised concerns about housing affordability and rising mortgage rates. “All six of the index’s components decreased month over month, with a survey-high 76% of consumers indicating that they believe it’s a bad time to buy a home, up from 73% last month. Additionally, 73% of respondents expect mortgage rates to continue their recent ascent over the next 12 months, also a survey high.” according to Fannie Mae.
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