Potential Buyers More Concerned About Money
Fannie Mae's monthly Home Purchase Sentiment Index is a monthly gauge of how Americans feel about the housing market, economy, and their personal financial situation. The survey asks participants for their opinions about home prices, mortgage rates, their job, income, and whether or not they think now is a good time to buy or sell a home. According to the most recent release, respondents are feeling optimistic about the housing market but are beginning to feel less confident about economic conditions and job security. Doug Duncan, Fannie Mae's senior vice president and chief economist, says sentiment is still strong despite consumers becoming a little more cautious. “Consumer sentiment remains relatively strong overall, though uncertainty about the economy and individual financial circumstances appear to be weighing on housing market attitudes a bit more than a month ago,” Duncan said. “Views about the direction of the economy held relatively steady, and the share of respondents who say it's a good time to buy or sell a home rose slightly. However, consumers who are pessimistic about current housing market conditions are more likely to cite unfavorable economic conditions than the prior month.” More here.