Fewer Americans Think Now Is a Good Time to Buy a Home
January 8, 2019
December saw American’s feeling about the housing market sour. The number of Americans who think it’s a good time to buy a home fell precipitously last month, according to Fannie Mae’s Home Purchase Sentiment Index.
The index as a whole was down 2.7 points, for a reading of 83.5. This is 2.3 points lower than the same month the year before. The percentage of Americans who think now is a good time to buy a home fell by more than half, dropping by 12 percentage points. This means that just 11 percent of Americans think now is the time to buy.
The index is based on a survey of 1,000 American households, and tracks their views of the current housing market, as well as their expectations for where the market will go.