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Consumer outlook of housing market tumbles to record low, poll indicates

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Sentiments about the U.S. housing market have tumbled to a record low in a new Gallup polling.

said it is “a good time to buy a house,” down from a previous low of 30% last year. These are the first years that fewer than half of adults feel optimistic about owning a home since Gallup first polled the issue in 1978.“It is likely that Americans’ pessimism about homebuying reflects the high prices and high interest rates that are conspiring to make mortgage payments less affordable,” Gallup said Tuesday. “These attitudes may keep many prospective homebuyers out of the market.

Enthusiasm for home buying dipped in the 2008 poll after the housing market crashed the previous year and again in 2020. But it still did not fall below 50% in either year.

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