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Dated: November 9 2022
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Each month, Fannie Mae surveys Americans about their perceptions of the housing market, whether it's an excellent time to buy or sell a home, their job, income, and expectations for home prices and mortgage rates. The results form its Home Purchase Sentiment Index, tracking how we feel about the housing market and economy since 2011.
According to the most recent results, Americans feel less confident nowadays. October's survey found a declining number of participants who say now is an excellent time to buy or sell a home. Doug Duncan, Fannie Mae's senior vice president and chief economist, says the survey indicates that consumers are pessimistic. "Consumers are feeling increasingly pessimistic about home buying and home selling conditions," Duncan said. "Amid persistently high home prices and unfavorable mortgage rates, the 'bad time to buy' component increased to a new survey high this month, while the 'good time to sell' component continued its downward trend."
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