Fewer Americans Think it is a Good Time to Buy a Home
November 7, 2019
A recent survey from Fannie Mae shows that far fewer Americans think now is the time to buy a home. The mortgage company’s sentiment survey shows that just 21 percent of Americans say now is a good time to buy. This is a sizable drop from September, when 28 percent of Americans felt the same way.
The loss in enthusiasm can be attributed to one main factor: affordability. An economist with Fannie Mae noted that there is a “persistent challenge of a lack of affordable housing supply.” Consumer’s feelings may be changing in the coming months, however. The survey also found that the number of consumers who expect prices to increase over the next 12 months has fallen to the lowest level in seven years.