Housing Sentiment

Homebuyers and sellers were feeling pessimistic about the market last month due to affordability and job security concerns. Leaders at Fannie Mae said the Home Purchase Sentiment Index fell by 3.6 points in February, breaking three straight months of increases and pushing the index closer to a record low recorded last October. “The decline was partly driven by a substantial decrease in consumers’ sense of home-selling conditions, with most respondents who indicated it’s a ‘bad time to sell’ citing unfavorable economic conditions and mortgage rates as the primary reasons for that belief,” said Doug Duncan, Fannie Mae Senior Vice President and Chief Economist. “With home-selling sentiment now lower than it was pre-pandemic – and homebuying sentiment remaining near its all-time…