The share of folks who said it’s a 'good time to buy' increased to 22% during the month from 19% in May but remained well below the historical trend. The 'good time to sell' component remained elevated at 64%, down slightly from last month's 65%.
measuring housing sentiment increased slightly in June, with 4 of 6 surveyed components largely staying stagnant month over month.
"Confidence in the housing market appears to have plateaued at a relatively low level," Fannie Mae Chief Economist Doug Duncan said in a statement, "suggesting that many consumers may be coming to terms with elevated mortgage rates and high home prices."Mortgage rates to remain elevated The Federal Reserve has signaled that its benchmark interest rates — which indirectly affect fixed mortgage rates — will remain high, with potentially onlyFolks hold a similar view — that rates are close to where they will remain in the next 12 months.
. "That move-up buyer doesn't want to sacrifice their low interest rate. It's a segment of the market that's pretty much gone."For the second consecutive month, the net share of consumers who expect prices to increase was 11%. That’s the highest share since June 2022,That jibes with what’s happening on the ground.
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