Elevated mortgage rates and home prices are creating challenges for many homebuyers, and 86% said May was a bad time to buy — a new high in Fannie Mae surveys dating to 2010.
Category: national housing survey
Homebuyer sentiment tallies record low amid falling rates
Fannie Mae economist warns that, while mortgage rates have retreated, the primary drivers of housing pessimism are persistent affordability challenges and worries about household finances.
Consumer homebuying sentiment has plateaued at ‘pessimistic’
Most Americans polled by Fannie Mae last month said they would rather buy than rent, but a record-high 82 percent also said August was a bad time to buy.