By Swapna Venugopal Ramaswamy | USA Today
Only 30% of U.S. adults say it is a good time to buy a house, according to a new poll by Gallop.
This is the first time the figure dipped below 50% since 1978 when the company began conducting its annual poll. The number is down 23 percentage points from a year ago.
Gallup’s annual Economy and Personal Finance poll, conducted April 1-19, comes at a time when the median sales price of homes sold in the U.S. reached a record $428,000 in the first quarter of this year, the annual inflation rate accelerated to 8.5% in March and 30-year fixed mortgages climbed above 5%.
“People’s overall assessments of the economy is pretty negative now,” says Jeff Jones, an editor at Gallop. “Maybe more people are answering just in terms of current housing market conditions.”
