WASHINGTON (8/11/15)--The share of consumers who say now is the right time to purchase a home slipped to 61% in July, an all-time low for Fannie Mae’s monthly housing survey (Housingwire.com Aug. 10).
Further, the percentage of those who say now is a good time to sell plummeted by 7% to 45%, perhaps signaling a slowdown in the purchase market as summer turns to fall.
“Deteriorating consumer assessments of income growth over the past year, as well as increased caution around the direction of the economy and personal financial expectations, may be contributing to the pullback in sentiment,” said Doug Duncan, Fannie Mae senior vice president/chief economist (Housingwire.com).
Duncan added, however, that it might be too early to read too much into this month’s results, as the survey took place in the midst of Greece’s financial troubles and a stock-market stumble in China.
“Most of our key indicators are as strong or stronger than they were at this time last year, which is indicative of an improving housing market this year,” Duncan said.
Additional numbers from the report: