• Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans

Subscribe to Updates

Get the latest finance news and updates directly to your inbox.

Top News

Think You’re Building Wealth? These 16 Money Mistakes Say Otherwise

July 7, 2025

75 Top Companies With Remote Jobs This Summer

July 7, 2025

Why Your Company Needs Flexible Capital (and How to Get It)

July 6, 2025
Facebook Twitter Instagram
Trending
  • Think You’re Building Wealth? These 16 Money Mistakes Say Otherwise
  • 75 Top Companies With Remote Jobs This Summer
  • Why Your Company Needs Flexible Capital (and How to Get It)
  • 101 Small Business Ideas to Match Your Personality, Investment, Skills & Goals
  • Microsoft Office Pro 2021 Gives Your Team the Edge at a One-Time $40 Cost
  • Create Visuals, Content, and Presentations That Land with This $25 Bundle
  • Big Beautiful Bill Affects Many Tax Rules Including Estate Planning
  • Can the Self-Cleaning Feature Damage Your Oven?
Monday, July 7
Facebook Twitter Instagram
FintechoPro
Subscribe For Alerts
  • Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans
FintechoPro
Home » Is It a Bad Time to Buy a Home? High Rates, Prices Are Discouraging Buyers.
Investing

Is It a Bad Time to Buy a Home? High Rates, Prices Are Discouraging Buyers.

News RoomBy News RoomAugust 8, 20230 Views0
Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Email Tumblr Telegram

A home for sale in San Francisco.


Justin Sullivan/Getty Images

If you’ve been feeling beaten down by high mortgage rates and strengthening home prices, you’re not alone.

More than four in five respondents to Fannie Mae’s July survey gauging housing market sentiment said it was a bad time to buy a house, according to data released Monday. At 82%, the share of those negative on the prospects for buying a home was tied with January’s high. The survey data dates back to 2010.

Respondents’ distaste for buying a home right now likely stems from housing costs, Fannie Mae chief economist Doug Duncan said in a release. “It’s unlikely we’ll see housing sentiment catch up to other broader economic confidence measures until there is meaningful improvement to home purchase affordability,” the economist said. “Consumers continue to attribute the challenging conditions to high home prices and unfavorable mortgage rates.” 

Another defining factor of 2023’s housing market, the relatively low supply of existing homes for sale, looks unlikely to change any time soon, judging by survey data. The share of respondents who say it’s a good time to sell was 64% for the second month in a row. “We have not seen much movement in the ‘good time to sell’ component over the past few months, an indication that the current low levels of existing homes for sale will likely continue to persist in the near term,” Duncan said.

It isn’t just homeowners sitting on the sidelines. With mortgage rates continuing their upward climb, home prices strengthening, and consumers remaining downbeat on home buying, current renters may be hesitant to buy their first homes—particularly as rental options expand and more new units hit the market.

Roughly one-third of respondents said they would rent instead of buying if they moved, up from 27% last year. While 15% of homeowners surveyed said they would rent if they moved, about in line with the historic average, 67% of renters said the same—the highest share in the survey question’s history dating back to 2011.

Consumers surveyed by Fannie Mae began to sour on the housing market as home prices soared in the second half of 2021—and sentiment worsened the following year as mortgage rates rose. Sales of previously owned homes have lagged this year, with June’s seasonally-adjusted sales rate about 19% lower than the year prior.

Write to Shaina Mishkin at [email protected]

Read the full article here

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Articles

101 Small Business Ideas to Match Your Personality, Investment, Skills & Goals

Investing July 6, 2025

How to Deal With Negative Articles on Google

Investing July 5, 2025

13 Jobs Without College or AI: Salaries Can Start at $70k+

Investing July 2, 2025

Why Your Finance Team Needs an AI Strategy, Now

Investing July 1, 2025

Grief Forced Me to Step Away From My Company. These 5 Systems Made It Possible.

Investing June 30, 2025

Access to 1,000+ Skill Courses Is Now Just $20

Investing June 29, 2025
Add A Comment

Leave A Reply Cancel Reply

Demo
Top News

75 Top Companies With Remote Jobs This Summer

July 7, 20250 Views

Why Your Company Needs Flexible Capital (and How to Get It)

July 6, 20250 Views

101 Small Business Ideas to Match Your Personality, Investment, Skills & Goals

July 6, 20250 Views

Microsoft Office Pro 2021 Gives Your Team the Edge at a One-Time $40 Cost

July 6, 20250 Views
Don't Miss

Create Visuals, Content, and Presentations That Land with This $25 Bundle

By News RoomJuly 6, 2025

Disclosure: Our goal is to feature products and services that we think you’ll find interesting…

Big Beautiful Bill Affects Many Tax Rules Including Estate Planning

July 6, 2025

Can the Self-Cleaning Feature Damage Your Oven?

July 6, 2025

The 15 Best-Paying Big Cities for Construction Workers in America

July 6, 2025
Facebook Twitter Instagram Pinterest Dribbble
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact
© 2025 FintechoPro. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.