Housing market sentiment has plateaued, according to a new survey from Fannie Mae. Its monthly Home Purchase Sentiment Index asks participants for their feelings about buying/selling a home, mortgage rates, prices, their job, and financial situation. The latest results show consumer sentiment was largely unchanged from one month earlier, as Americans wait to see whether market conditions improve. Doug Duncan, Fannie Mae’s senior vice president and chief economist, says consumers are adjusting. “We think consumers’ generally improved sense of home-selling conditions bodes well for listings and housing activity, particularly for the segment of the population who may need to move for lifestyle reasons and have already begun adjusting their financial expectations to the current mortgage rate and price environment,” Duncan said. “However, for potential home buyers in less of a rush to transact, ongoing affordability challenges may continue to keep many of them on the sidelines.” (source)
