Consumers’ concerns about housing affordability are squeezing would-be homebuyers out of the market, according to Fannie Mae‘s Home Purchasing Sentiment Index, which tracks the housing market and consumer confidence to sell or buy a home. The index score dropped by 0.3 points to 68.2 in May, inching toward its 10-year and pandemic-low of 63, recorded in April 2020.
All six of the index’s components — which ask consumers to weigh in on whether it’s a good time to buy, sell, and in what direction mortgage rates will move — dropped 11.8 points from the same time last year. A survey-high of details ⇒
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