What’s hampering buyer, seller confidence

new-home-purchase-sentiment-strongest-in-4-years-zyfin-researchREALTORMag

Though they say now is a good time to buy or sell a home, Americans are growing more cautious about the housing market. Fannie Mae’s latest Home Purchase Sentiment Index, which measures attitudes toward the economy and personal finances, shows an overall dip in confidence among the American public in four of the six components it measures.

The number consumers reporting significantly higher incomes over the past year saw the largest drop among all measures in October — falling 8 percentage points — according to the index, which is based on a survey of 1,000 Americans. Also, the net share of consumers expecting home prices to rise in the next year decreased three percentage points. Americans who say mortgage rates will drop and those who are confident about not losing their job both showed decreases by 1 percentage point in October.

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