On the buy-side, 66% of consumers said it’s a bad time to buy a home, up from 64% in June; while on the sell-side, 75% of respondents said it’s a good time to sell, down slightly from 77% last month.
“Overall, the HPSI remains within a tight range established a few months after the onset of the pandemic in 2020,” Duncan said. “The percentage of respondents citing high home prices as the top reason for it being a ‘bad time to buy’ also reached an all-time high. On the flip side, selling sentiment remains extremely high, and well above pre-pandemic levels, for the same commonly cited reason: high home prices.”
There was a drop in the net shares of those expecting home prices to rise in the next 12 months (46%), lower mortgage rates (5%), and those who are not concerned about losing their job (84%). Meanwhile, the net share of respondents who said their income had improved over the past year remained unchanged at 27%.