U.S. consumers saying 'bad time to buy' a house hits 13-year high in July
The portion of U.S. consumers saying now is a "bad time to buy" a new home increased by 4 percentage points in July to 82%, according to a report released Monday by Fannie Mae, the highest level since the mortgage finance giant began conducting the survey in 2010.
The grim perception of the housing market comes as home costs appear to have hit a floor after downward price pressure from the Federal Reserve's 525 basis points worth of interest rate hikes since March 2022.remained Willingness to sell was unchanged in July, according to the survey, with 64% of respondents indicating that now was a good time to sell - unchanged from the month prior.
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