{"id":9419,"date":"2023-05-16T09:54:21","date_gmt":"2023-05-16T13:54:21","guid":{"rendered":"https:\/\/ifintechworld.com\/news\/the-number-of-americans-who-think-its-a-terrible-time-to-buy-a-home-hits-45-year-low-gallup-says\/"},"modified":"2023-05-16T09:54:22","modified_gmt":"2023-05-16T13:54:22","slug":"the-number-of-americans-who-think-its-a-terrible-time-to-buy-a-home-hits-45-year-low-gallup-says","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=9419","title":{"rendered":"The number of Americans who think it\u2019s a terrible time to buy a home hits 45-year low, Gallup says"},"content":{"rendered":"
\n

Most Americans are frustrated by the housing market, finding it a terrible time to buy right now, according to a poll released Tuesday.<\/p>\n

The share of adults in the U.S. who say it\u2019s a good time to buy a home \u2014 a measure of people\u2019s perception of the housing market, separate from their thoughts on the overall U.S. economy \u2014 has dropped to the lowest share in 45 years, according to the research from Gallup. The drop in sentiment comes as mortgage rates and home prices stay elevated.\u00a0<\/p>\n

\n

In other words, nearly 8 in 10 people say it\u2019s a bad time to buy, Gallup said.<\/p>\n

The company surveyed 1,013 people between April 3 to 25 as part of its annual Economy and Personal Finance poll.\u00a0<\/p>\n

The last time Americans felt so negatively about home-buying was in 2022, Jeff Jones, senior editor at Gallup, told MarketWatch.\u00a0<\/p>\n

\u201cHistorically, when people answer the question, they\u2019re partly responding to the current housing market and home prices and interest rates, but also, to some degree, the long term benefits of owning a home,\u201d Jones said. \u201cBut these last two years, we\u2019re seeing the opposite \u2014 people are a lot more negative.\u201d<\/p>\n

Slightly more than half of the survey\u2019s respondents said they believe home prices in their area will increase, a dip from last year\u2019s 70%.<\/p>\n

The median price for an existing home fell by 0.9% from last March, dropping to $375,700 this year. The drop is the largest since January 2012, when home prices fell 2% year over year. It\u2019s also the second month in a row that home prices fell.<\/p>\n

To be clear, this is only one firm\u2019s gauge of consumer sentiment. Gallup\u2019s read runs counter to what Fannie Mae
\n FNMA,
\n -0.02%<\/bg-quote>
\n said about Americans\u2019 attitude towards the housing market this spring, namely that consumers are feeling more optimistic about home-buying. The government agency\u2019s survey noted that an increasing share of consumers expect mortgage rates to go down over the next year.<\/p>\n

Gallup\u2019s methodology differs from Fannie Mae, which could explain the difference in how their respondents viewed the housing market.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Most Americans are frustrated by the housing market, finding it a terrible time to buy right now, according to a poll released Tuesday. The share of adults in the U.S. who say it\u2019s a good time to buy a home \u2014 a measure of people\u2019s perception of the housing market, separate from their thoughts on […]<\/p>\n","protected":false},"author":1,"featured_media":9420,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[236],"tags":[83],"class_list":["post-9419","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-news","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nThe number of Americans who think it\u2019s a terrible time to buy a home hits 45-year low, Gallup says | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Most Americans are frustrated by the housing market, finding it a terrible time to buy right now, according to a poll released Tuesday. 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