Soaring home prices kill renters’ confidence in buying a home

Diana Olick | CNBC

Mortgage rates are near record lows, employment is improving and rents are pricey. So why aren’t more renters taking the plunge into homeownership?

Renters are avoiding buying a home mainly because house prices are soaring. Just 52 percent of renters surveyed in a National Association of Realtors quarterly report said they feel now is a good time to buy — that is down from 62 percent of those surveyed one year ago.

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