High Home Prices Continue To Weigh on Home Buying Sentiment

 

High Home Prices Continue to Weigh on Home Buying Sentiment

Fannie Mae’s index dropped 1.2 points in Sept. More consumers (66%) thought it was a bad time to buy a home while only 28% believed it was a good time to buy.

Overall, three of the index’s six components decreased month over month.

Year over year, the full index is down 6.5 points.

The survey’s story is also largely unchanged: Consumers feel it’s a bad time to buy a home but a good time to sell – and they continue to cite high home prices as the primary reason.

 

As a result, the net share of those who say it is a good time to sell increased 1 percentage point month over month.