Confidence In Home Buying Falls To An All-Time Low

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May 10, 2016

The net share of Americans who think it is a good time to buy a house fell to 30 percent, a drop of 3 percentage points and a new all-time survey low, according to Fannie Mae’s most recent Home Purchase Sentiment Index.

The index reflects consumers’ current views and forward-looking expectations of housing market conditions, HousingWire reports. Fannie Mae also said that the gap between consumers who believe now is a good time to sell and those that believe now is a good time to buy is as small as it has ever been.

The survey also showed that the net share of people who believe mortgage interest rates will drop fell to negative 46%, a one percent drop. The net share of respondents who say their household income is significantly higher than it was 12 months ago remained unchanged at 11 percent but the net share of those who say they are not concerned about losing their job increased by 6 percentage points to 74 percent. This 6 percent increase almost completely negated the 7 percent drop in March.

The survey was conducted by polling 1,000 Americans via telephone in order to assess their attitudes toward owning and renting a home.

To view the full results from the survey, click the link below.

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