Real Estate

More Americans say now is a bad time to buy a home

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An ‘Open House’ sign is displayed in the front yard of a home for sale in Columbus, Ohio.

Ty Wright | Bloomberg | Getty Images

After a strong summer in the housing market, something is turning potential buyers on their heels. Just 21% of Americans say now is a good time to buy a home, a drop from 28% in September, according to a monthly sentiment survey by Fannie Mae.

There was also a decline in the share of people who think now is a good time to sell a home, from 44% to 41%.

The problem is price. Affordability has weakened considerably since the surge in summer buying. Home price gains had been cooling off at the start of this year, but then mortgage rates began falling, buyers rushed in…



Source cnbc.com

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