Tag Archives: Good/Bad Time to Sell

For a litany of reasons—including rising prices and inflation—most consumers surveyed believe that now is not a good time to purchase a home.

“Confidence in the housing market appears to have plateaued at a relatively low level, suggesting that many consumers may be coming to terms with elevated mortgage rates and high home prices,” said Doug Duncan, Fannie Mae SVP and Chief Economist.

“Consumers also indicated that they don’t expect these affordability constraints to improve in the near future, with significant majorities thinking that both home prices and mortgage rates will either increase or remain the same over the next year,” said Mark Palim, Fannie Mae’s VP and Deputy Chief Economist.

The Home Purchase Sentiment Index published monthly by Fannie Mae reported yet another increase to its highest level since May 2022, mainly due to greater consumer optimism about mortgage rates.

“January’s HPSI results showed that consumer sentiment toward the housing market remains subdued by historical standards,” said Doug Duncan, Fannie Mae’s SVP and Chief Economist.

"The HPSI reached an all-time survey low this month, in line with expectations that the housing market will continue to cool in the months ahead," said Doug Duncan, Fannie Mae SVP and Chief Economist.

According to Fannie Mae's Home Purchase Index, the percentage of Americans that believe now is a good time to buy a home decreased alongside those who expect mortgage rates to go down in the next year. Meanwhile, the percentage who say it is a bad time to buy increased to 75%.