Only 35% of Homebuyers Believe Now is a Good Time to Buy a Home

Every month Fannie Mae surveys about 1000 Americans on their attitudes and beliefs about both buying a home and selling a home. In May just 35% of homebuyers believe now is a good time to buy a home and 56% believe now is a bad time to buy a home. Why? “Consumers appear to be acutely aware of higher home prices and the low supply of homes, the two reasons cited most frequently,” said Doug Duncan the SVP and chief economist for Fannie Mae.
Still 29% of respondents said their household income this year is significantly higher than it was a year ago. Next, only 13% of respondents are worried about losing their job in the next 12 months. Thus, I expect many people will still act and buy a new home.