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June 2017   Volume 43, Number 6      
 

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Consumer Confidence Falls after Record High

Consumer confidence in the housing market declined from its record high in February, dropping 3.8 percentage points to a reading of 84.5 in March, according to Fannie Mae’s Home Purchase Sentiment Index, a survey of about 1,000 Americans. The percentage of consumers who expressed a positive outlook on buying a home and their employment situation declined. However, the percentage of consumers who said now is a good time to sell surged 9 percentage points month over month.

“Strong home-price appreciation has turned into a double-edged sword for the housing market, as it boosted the net share of consumers saying it’s a good time to sell to a record high, surpassing the plunging ‘good time to buy’ indicator for the first time in history of the survey,” says Fannie Mae chief economist Doug Duncan.

The net share of Americans who say now is a good time to buy a home declined 10 percentage points from February. The net percentage of Americans who say now is a bad time to buy a home due to high home prices was 39 percent. Additionally, 44 percent of consumers believe home prices will rise, a decline of 1 percentage point from February.

The number of consumers who say their household income is significantly higher than it was 12 months ago declined 8 percentage points to 11 percent.

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In this issue:

Virtual Reality Shakes Up Real Estate

All-cash Chinese Buyers Disappearing From U.S. Real Estate Markets

Consumer Confidence Falls after Record High

Immigrant Households Impact Success of Real Estate Market

Multifamily Construction Loans Are Getting Harder for Developers to Find

Survey NAR Survey Finds Increase in Consumer Confidence in the Midwest and Rural Areas

Purchases of Vacation Homes Declined for Second Straight Year in 2016

Rising Home Prices Drive Up Homeowner Debt

The 10 States Investing the Most in Commercial Real Estate

How Sellers Can Avoid the Downsides of Hot Real Estate Markets


 


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