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According to Fannie Mae, 78% of Americans believe the economy is on the wrong track, while 85% think it's a bad time to purchase a house due to high prices and mortgage rates. Additionally, only 17% believe mortgage rates will decrease in the next 12 months. Homebuilder sentiment in the US has dropped to its lowest point in a year, attributed to high mortgage rates impacting housing demand. However, there is some optimism due to falling rates. Builder confidence decreased in November, with sentiment plunging in the West, South, and Midwest but improving in the Northeast. NAHB Chief Economist Robert Dietz noted that despite the decline in sentiment, recent macroeconomic data suggest improving conditions for home construction in the coming months.
“While builder sentiment was down again in November, recent macroeconomic data point to improving conditions for home construction in the coming months,” said NAHB Chief Economist Robert Dietz” https://t.co/J8MSATz5vr (@calculatedrisk) https://t.co/DbRu4iGUPO
Homebuilder sentiment plunged to near-cycle lows in the West, South, and Midwest, but it saw a bump up in the Northeast and is in the 70th percentile of all historical readings there. Definitely one of the crazier data points of the day: https://t.co/tTrbeKK0cm https://t.co/hAYGseX9Fp
Home Construction Likely Faltered in October. The Outlook Is Better. https://t.co/LUXFL9voSv
Homebuilder sentiment continued its 4th straight month of declines, reports @Dianaolick. She breaks down the numbers and explains how it affects the broader housing market. $XHB https://t.co/cZi6nv2BPR
US homebuilder sentiment fell to the lowest level this year in November as high mortgage rates kept a lid on housing demand https://t.co/mFq07Ytriu
Homebuilder confidence deteriorates again in November — but could the worst be over? https://t.co/wAmEkvXbXl by @JannaHerron
US homebuilder sentiment fell to the lowest level this year in November as high mortgage rates kept a lid on housing demand https://t.co/3qObEB0vKG
NAHB: Builder Confidence Decreased in November https://t.co/EtmYpwOZBc https://t.co/G8geLRliXW
Homebuilder sentiment drops to lowest point in a year, but falling rates spur some optimism https://t.co/LnIJeU2RQr
33% of Americans said it’s a bad time to sell a home, Fannie Mae has found.
An all time high of Americans think it is a bad time to buy a home: https://t.co/kmwPWk2iNh
Only 17% of Americans believe that mortgage rates will go down over the next 12 months, according to Fannie Mae.
85% of Americans in October said now is a bad time to purchase a house because of high home prices and high mortgage rates, an all time high, per Fannie Mae.
78% of Americans say the economy is on the wrong track, per Fannie Mae.