FNMA - Higher prices make homebuyers more pessimistic in January Fannie Mae says

The low supply of U.S. homes for sale continues to push up home prices, pulling down the mood of prospective homebuyers in January. The Fannie Mae Home Purchase Sentiment Index fell 2.4 points to 71.8 in January, its lowest level since May 2020.  The full index fell 5.9 points from a year ago. Four of the index's six components declined from December, including the components measuring consumers' perceptions of homebuying and home-selling conditions. A record-low 25% of respondents in January said now is a good time to buy a home. On the flip side, 69% of consumers said it's a good time to sell.  In addition, consumers expressed concerns about job stability and the future path of mortgage rates, Fannie Mae said. "Consumer sentiment toward housing softened further in January – the HPSI fell 2.4 points to 71.8 – as affordability and supply constraints continue to limit home purchase opportunities,

For further details see:

Higher prices make homebuyers more pessimistic in January, Fannie Mae says