Potential Buyers Are Cautious

Posted by John Sabia on Wednesday, November 18th, 2015 at 11:16am.

Overall, most Americans are confident in their job security, but they may have 2nd thoughts about buying a house for sale or condo for sale according to a recent study by Fannie Mae. The Fannie Mae monthly Home Purchase Sentiment Index questions folks about their thoughts on home ownership, price changes, economic conditions and their personal finances.

The responses were fairly flat as compared to the previous month with a small drop in the number of respondents who believe they should wait before buying a home. Fannie Mae’s senior VP and chief economist, Doug Duncan while Americans feel secure in their employment, their household incomes aren’t growing.

Mr. Duncan said, “The income growth necessary for renewed momentum in housing market sentiment remains elusive, even though consumers' confidence in their job security continues to strengthen. Consumers' net view on whether their household income has improved over the last year is down once again this month.” Duncan continued, “Still, despite the fact that consumers have become slightly more hesitant, the overall index remains near its highest level of the past four years and all indications point to continued strength through the end of the year and into 2016.”

photo of roof line on house

John Sabia

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