It ain’t a good time to buy no thanks to high mortgage rates and home prices, but it sure feels like a great time to sell, consumers told Fannie Mae FNMA in a poll published Wednesday.
Home sellers felt as though it was a moment to seize: 65% of consumers believed it was a good time to sell their home, compared to 62% in April. The component is at the highest level since last July, Fannie Mae noted. Consumers were also pessimistic about future plans to buy a home, he added. The respondents to the survey “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,” Palim said.