High home prices and rising mortgage rates have caused consumer sentiment in housing to drop.
A monthly survey from Fannie Mae showed home purchase sentiment in January fell to its lowest level since May 2020, at the start of the pandemic.On the flip side, 69% said now is a good time to sell.
A monthly survey from Fannie Mae showed home purchase sentiment in January fell to its lowest level since May 2020, at the start of the pandemic. Weaker affordability is clearly the problem. Home prices are still gaining, and the gains are still accelerating . The latest measure showed prices nationally up 18.5% in December, according to CoreLogic. That's up from an 18.1% annual gain in November. Home price appreciation more than doubled last year, averaging 15% for the full year, compared to just 6% appreciation in 2020.
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