Fannie Mae’s monthly survey of consumer sentiment about the housing industry contains hints that consumers may finally be getting used to the seemingly-intractable combination of high interest rates and high home prices that’s choking residential real estate markets around the country.
The latest Fannie Mae survey of consumer homebuying sentiment shows that Americans are of opposite minds when it comes to buying and selling homes.
A record low 25 percent of respondents in Fannie Mae’s latest monthly Home Purchase Sentiment Index survey said it was a good time to buy a home.
Fannie Mae’s monthly survey of homebuying sentiments showed Americans’ perceptions of the housing market continued to diverge last month, pointing the way towards a potential easing of demand for homes even as average 30-year mortgage interest rates remain at or near 3 percent.
A pair of national polls, one of Realtors and the other of consumers, offer contrasting views of the housing market under the COVID-19 pandemic.
The share of Americans who think now is a good time to buy fell 8 percent to a record low 27 percent last month, according to the Fannie Mae Home Purchase Sentiment Index for May. The percentage of those who say now is a good time to sell increased 6 percent to 32 percent, a record high.
