{"id":11397,"date":"2023-05-20T11:22:52","date_gmt":"2023-05-20T15:22:52","guid":{"rendered":"https:\/\/ifintechworld.com\/news\/is-now-a-good-time-to-buy-a-house-only-20-of-americans-say-yes\/"},"modified":"2023-05-20T11:22:53","modified_gmt":"2023-05-20T15:22:53","slug":"is-now-a-good-time-to-buy-a-house-only-20-of-americans-say-yes","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=11397","title":{"rendered":"Is now a good time to buy a house? Only 20% of Americans say \u2018yes\u2019"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0001007513\" role=\"document\">\n<p>Both prospective homebuyers and sellers are feeling increasingly annoyed by the housing market and the economy, according to a new survey.<\/p>\n<p>Their frustrations were registered by the Fannie Mae Home Purchase Sentiment Index, which dropped by 3.4 points in June to 64.8. That\u2019s the second-lowest reading in a decade.<\/p>\n<div class=\"paywall\">\n<p>Consumers surveyed were pessimistic about home-buying conditions. Only 20% said that it was a good time to buy a house. 75% said it was a bad time to buy a home. <\/p>\n<p>Sellers were also feeling less optimistic: The percentage of consumers who believe it\u2019s a good time to sell fell from 76% in May 2022 to 68% last month. <\/p>\n<p>\u201cPeople appear to be growing increasingly frustrated with inflation and the slowing economy,\u201d Doug Duncan, senior vice president and chief economist at Fannie Mae, said in a statement.<\/p>\n<p>A significant share of consumers said they were worried about the future of the U.S. economy.  81% of those surveyed by Fannie Mae said that the economy is on the \u201cwrong track\u201d and a plurality of respondents said that they thought it would be difficult to get a mortgage \u2014 for the first time in seven years.<\/p>\n<p>One-fifth of respondents also expressed concerns about job stability in the Fannie Mae survey, which was the \u201chighest percentage in 18 months,\u201d Duncan said.<\/p>\n<p>Housing affordability is still a concern as mortgage rates and home prices continue to be much higher now than where they were a year ago.<\/p>\n<p>The average on the 30-year fixed-rate mortgage stood at 5.3% as of Thursday. The median price for an existing home up for sale was $407,600 in May 2022.<\/p>\n<p>\u201cAs a whole, this month\u2019s \u2026 results are consistent with our\u00a0forecast\u00a0of a slowing housing market through the rest of this year and next,\u201d Duncan added.<\/p>\n<p><strong><em>Write to MarketWatch reporter Aarthi Swaminathan at: aarthi@marketwatch.com<\/em><\/strong><\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/americans-are-growing-increasingly-frustrated-with-the-economy-and-gloomy-about-the-housing-market-fannie-mae-survey-says-11657214097?mod=personal-finance\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Both prospective homebuyers and sellers are feeling increasingly annoyed by the housing market and the economy, according to a new survey. Their frustrations were registered by the Fannie Mae Home Purchase Sentiment Index, which dropped by 3.4 points in June to 64.8. That\u2019s the second-lowest reading in a decade. Consumers surveyed were pessimistic about home-buying [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11398,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[236],"tags":[83],"class_list":["post-11397","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-news","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Is now a good time to buy a house? Only 20% of Americans say \u2018yes\u2019 | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Both prospective homebuyers and sellers are feeling increasingly annoyed by the housing market and the economy, according to a new survey. Their\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=11397\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is now a good time to buy a house? Only 20% of Americans say \u2018yes\u2019 | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Both prospective homebuyers and sellers are feeling increasingly annoyed by the housing market and the economy, according to a new survey. 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