Fannie Mae conducts a monthly survey of Americans to gauge public perception of the housing market and economy. The survey asks participants whether they think now is a good or bad time to buy a home, if they think mortgage rates will rise or fall in the next year, and about home prices, their personal financial situation, and job security.
According to the results of the most recent survey, respondents are still feeling cautious about the current market, though a majority say it's a good time to sell a house. In fact, 59 percent of Americans feel now is a good time to sell.
Doug Duncan, Fannie Mae's senior vice president and chief economist, says buyers aren't feeling as optimistic. “As long as supply is limited and affordability pressures continue to constrain potential home buyers via elevated home prices and mortgage rates, we expect home sales will remain sluggish,” Duncan said.
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