Rising Prices Make It A Bad Time To Buy A Home

August 8, 2017

Potential buyers are trying to withstand a sellers’ market.

HousingWire reports that the number of Americans who say that now is a bad time to buy a home reached an all-time high last month, according to Fannie Mae’s most recent Home Purchase Sentiment Index.

Rising home prices are the main concern for buyers, and that might not be changing anytime soon. Some 47 percent of respondents said that they believe home prices will continue to rise.

Only 23 percent of respondents said that now is a good time to buy.

However, Americans were more confident in their jobs in July, with the share saying they are not concerned about their job rising nine percentage points to 75%. But while they are confident they won’t lose their jobs, Americans who reported their wages are up significantly from last year fell one percentage point to 16% in July.

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