More consumers say it’s a good time to buy
The latest consumer sentiment index from Fannie Mae shows that home buyers don’t seem to be deterred by rising prices and rates, at least for now. The net share of survey respondents who said now is a good time to buy rose 10 percentage points in March month over month and is now at 32 percent, according to Fannie Mae’s Home Purchase Sentiment Index, based on a poll of about 1,000 consumers.
Overall, the index rose 2.5 percent in March to a reading of 88.3. Two of the six components registered the largest increases last month: the share of consumers who said it’s a good time to buy and those who were optimistic about selling. The net share of consumers who reported it was a good time to sell a home rose 3 percentage points in March.