{"id":10263,"date":"2023-08-08T20:53:38","date_gmt":"2023-08-08T20:53:38","guid":{"rendered":"https:\/\/isafespend.com\/investing\/is-it-a-bad-time-to-buy-a-home-high-rates-prices-are-discouraging-buyers\/"},"modified":"2023-08-08T20:53:39","modified_gmt":"2023-08-08T20:53:39","slug":"is-it-a-bad-time-to-buy-a-home-high-rates-prices-are-discouraging-buyers","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=10263","title":{"rendered":"Is It a Bad Time to Buy a Home? High Rates, Prices Are Discouraging Buyers."},"content":{"rendered":"
\n
\n
\n
<\/div>
\n

A home for sale in San Francisco.<\/h4>\n


\n Justin Sullivan\/Getty Images
\n <\/span>
\n <\/figcaption><\/figure>\n<\/p><\/div>\n

If you\u2019ve been feeling beaten down by high mortgage rates and strengthening home prices, you\u2019re not alone. <\/p>\n

More than four in five respondents to Fannie Mae\u2019s July survey gauging housing market sentiment said it was a bad time to buy a house, according to data released Monday. At 82%, the share of those negative on the prospects for buying a home was tied with January\u2019s high. The survey data dates back to 2010. <\/p>\n

\n

Respondents\u2019 distaste for buying a home right now likely stems from housing costs, Fannie Mae chief economist Doug Duncan said in a release. \u201cIt\u2019s unlikely we\u2019ll see housing sentiment catch up to other broader economic confidence measures until there is meaningful improvement to home purchase affordability,\u201d the economist said. \u201cConsumers continue to attribute the challenging conditions to high home prices and unfavorable mortgage rates.\u201d\u00a0<\/p>\n

Another defining factor of 2023\u2019s housing market, the relatively low supply of existing homes for sale, looks unlikely to change any time soon, judging by survey data. The share of respondents who say it\u2019s a good time to sell was 64% for the second month in a row. \u201cWe have not seen much movement in the \u2018good time to sell\u2019 component over the past few months, an indication that the current low levels of existing homes for sale will likely continue to persist in the near term,\u201d Duncan said.<\/p>\n

It isn\u2019t just homeowners sitting on the sidelines. With mortgage rates continuing their upward climb, home prices strengthening, and consumers remaining downbeat on home buying, current renters may be hesitant to buy their first homes\u2014particularly as rental options expand and more new units hit the market. <\/p>\n

Roughly one-third of respondents said they would rent instead of buying if they moved, up from 27% last year. While 15% of homeowners surveyed said they would rent if they moved, about in line with the historic average, 67% of renters said the same\u2014the highest share in the survey question\u2019s history dating back to 2011.<\/p>\n

Consumers surveyed by Fannie Mae began to sour on the housing market as home prices soared in the second half of 2021\u2014and sentiment worsened the following year as mortgage rates rose. Sales of previously owned homes have lagged this year, with June\u2019s seasonally-adjusted sales rate about 19% lower than the year prior.<\/p>\n

Write to Shaina Mishkin at shaina.mishkin@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A home for sale in San Francisco. Justin Sullivan\/Getty Images If you\u2019ve been feeling beaten down by high mortgage rates and strengthening home prices, you\u2019re not alone. More than four in five respondents to Fannie Mae\u2019s July survey gauging housing market sentiment said it was a bad time to buy a house, according to data<\/p>\n","protected":false},"author":1,"featured_media":10264,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":{"0":"post-10263","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"yoast_head":"\nIs It a Bad Time to Buy a Home? High Rates, Prices Are Discouraging Buyers. | iSafeSpend<\/title>\n<meta name=\"description\" content=\"A home for sale in San Francisco. Justin Sullivan\/Getty Images If you\u2019ve been feeling beaten down by high mortgage rates and strengthening home prices,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/isafespend.com\/?p=10263\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is It a Bad Time to Buy a Home? High Rates, Prices Are Discouraging Buyers. | iSafeSpend\" \/>\n<meta property=\"og:description\" content=\"A home for sale in San Francisco. Justin Sullivan\/Getty Images If you\u2019ve been feeling beaten down by high mortgage rates and strengthening home prices,\" \/>\n<meta property=\"og:url\" content=\"https:\/\/isafespend.com\/?p=10263\" \/>\n<meta property=\"og:site_name\" content=\"iSafeSpend\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-08T20:53:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-08T20:53:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/1691528018_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/isafespend.com\/?p=10263#article\",\"isPartOf\":{\"@id\":\"https:\/\/isafespend.com\/?p=10263\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf\"},\"headline\":\"Is It a Bad Time to Buy a Home? High Rates, Prices Are Discouraging Buyers.\",\"datePublished\":\"2023-08-08T20:53:38+00:00\",\"dateModified\":\"2023-08-08T20:53:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/isafespend.com\/?p=10263\"},\"wordCount\":423,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/isafespend.com\/#organization\"},\"articleSection\":[\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/isafespend.com\/?p=10263#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/isafespend.com\/?p=10263\",\"url\":\"https:\/\/isafespend.com\/?p=10263\",\"name\":\"Is It a Bad Time to Buy a Home? High Rates, Prices Are Discouraging Buyers. | iSafeSpend\",\"isPartOf\":{\"@id\":\"https:\/\/isafespend.com\/#website\"},\"datePublished\":\"2023-08-08T20:53:38+00:00\",\"dateModified\":\"2023-08-08T20:53:39+00:00\",\"description\":\"A home for sale in San Francisco. Justin Sullivan\/Getty Images If you\u2019ve been feeling beaten down by high mortgage rates and strengthening home prices,\",\"breadcrumb\":{\"@id\":\"https:\/\/isafespend.com\/?p=10263#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/isafespend.com\/?p=10263\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/isafespend.com\/?p=10263#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/isafespend.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Is It a Bad Time to Buy a Home? High Rates, Prices Are Discouraging Buyers.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/isafespend.com\/#website\",\"url\":\"https:\/\/isafespend.com\/\",\"name\":\"Solutions For Real\",\"description\":\"Latest Finance News and Updates\",\"publisher\":{\"@id\":\"https:\/\/isafespend.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/isafespend.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/isafespend.com\/#organization\",\"name\":\"Solutions For Real\",\"url\":\"https:\/\/isafespend.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png\",\"contentUrl\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png\",\"width\":690,\"height\":64,\"caption\":\"Solutions For Real\"},\"image\":{\"@id\":\"https:\/\/isafespend.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png\",\"contentUrl\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/isafespend.com\"],\"url\":\"https:\/\/isafespend.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Is It a Bad Time to Buy a Home? High Rates, Prices Are Discouraging Buyers. | iSafeSpend","description":"A home for sale in San Francisco. Justin Sullivan\/Getty Images If you\u2019ve been feeling beaten down by high mortgage rates and strengthening home prices,","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/isafespend.com\/?p=10263","og_locale":"en_US","og_type":"article","og_title":"Is It a Bad Time to Buy a Home? High Rates, Prices Are Discouraging Buyers. | iSafeSpend","og_description":"A home for sale in San Francisco. Justin Sullivan\/Getty Images If you\u2019ve been feeling beaten down by high mortgage rates and strengthening home prices,","og_url":"https:\/\/isafespend.com\/?p=10263","og_site_name":"iSafeSpend","article_published_time":"2023-08-08T20:53:38+00:00","article_modified_time":"2023-08-08T20:53:39+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/1691528018_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/isafespend.com\/?p=10263#article","isPartOf":{"@id":"https:\/\/isafespend.com\/?p=10263"},"author":{"name":"News Room","@id":"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf"},"headline":"Is It a Bad Time to Buy a Home? High Rates, Prices Are Discouraging Buyers.","datePublished":"2023-08-08T20:53:38+00:00","dateModified":"2023-08-08T20:53:39+00:00","mainEntityOfPage":{"@id":"https:\/\/isafespend.com\/?p=10263"},"wordCount":423,"commentCount":0,"publisher":{"@id":"https:\/\/isafespend.com\/#organization"},"articleSection":["Investing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/isafespend.com\/?p=10263#respond"]}]},{"@type":"WebPage","@id":"https:\/\/isafespend.com\/?p=10263","url":"https:\/\/isafespend.com\/?p=10263","name":"Is It a Bad Time to Buy a Home? High Rates, Prices Are Discouraging Buyers. | iSafeSpend","isPartOf":{"@id":"https:\/\/isafespend.com\/#website"},"datePublished":"2023-08-08T20:53:38+00:00","dateModified":"2023-08-08T20:53:39+00:00","description":"A home for sale in San Francisco. Justin Sullivan\/Getty Images If you\u2019ve been feeling beaten down by high mortgage rates and strengthening home prices,","breadcrumb":{"@id":"https:\/\/isafespend.com\/?p=10263#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/isafespend.com\/?p=10263"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/isafespend.com\/?p=10263#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/isafespend.com\/"},{"@type":"ListItem","position":2,"name":"Is It a Bad Time to Buy a Home? High Rates, Prices Are Discouraging Buyers."}]},{"@type":"WebSite","@id":"https:\/\/isafespend.com\/#website","url":"https:\/\/isafespend.com\/","name":"Solutions For Real","description":"Latest Finance News and Updates","publisher":{"@id":"https:\/\/isafespend.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/isafespend.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/isafespend.com\/#organization","name":"Solutions For Real","url":"https:\/\/isafespend.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/isafespend.com\/#\/schema\/logo\/image\/","url":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png","contentUrl":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png","width":690,"height":64,"caption":"Solutions For Real"},"image":{"@id":"https:\/\/isafespend.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/isafespend.com\/#\/schema\/person\/image\/","url":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png","contentUrl":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png","caption":"News Room"},"sameAs":["https:\/\/isafespend.com"],"url":"https:\/\/isafespend.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts\/10263","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10263"}],"version-history":[{"count":1,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts\/10263\/revisions"}],"predecessor-version":[{"id":10265,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts\/10263\/revisions\/10265"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/media\/10264"}],"wp:attachment":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10263"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10263"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10263"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}