{"id":19379,"date":"2021-09-09T12:16:37","date_gmt":"2021-09-09T12:16:37","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=19379"},"modified":"2021-09-09T12:17:36","modified_gmt":"2021-09-09T12:17:36","slug":"consumer-confidence-inches-up","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/consumer-confidence-inches-up\/","title":{"rendered":"Consumer Confidence Inches Up"},"content":{"rendered":"

Consumer Confidence Inches Up<\/h1>\n

 <\/p>\n

\n
\n
\n
\n
\n

The housing market is showing some sings of cooling<\/a>, which may be making more home buyers more optimistic in a competitive market. Thirty-two percent of consumers said in August it\u2019s a good time to buy, up from 28% in July, according to Fannie Mae\u2019s National Housing Survey, a survey of 1,000 U.S. adults. That marks the first sign of progress in home buyer sentiment since March.<\/p>\n

However, 63% of consumers still say it\u2019s a difficult time to buy. Higher home prices and scant housing stock have had consumers concerned about the housing market. Bidding wars have become frustrating to those who keep losing out.<\/p>\n

Mark Palm, Fannie Mae\u2019s vice president and deputy chief economist, said the increase in the \u201cgood time to buy\u201d survey\u2019s component is likely to be a reflection of the favorable mortgage rate environment and the growing expectation that home price growth will begin to moderate over the next year.<\/p>\n

Also, new listings increased 5% in the 50 largest metros, which could be opening more options to home buyers, according to realtor.com\u00ae\u2019s newly released Monthly Housing Report<\/a>. \u201cLow mortgage rates have motivated home buyers to endure this year\u2019s challenging market and now some buyers are starting to see their persistence pay off,\u201d said Danielle Hale, realtor.com\u00ae\u2019s chief economist. \u201cThis month, new sellers added more affordable entry-level homes to the market compared to last year, while others began adjusting listing prices to better compete with an uptick in inventory.\u201d<\/p>\n

New Listings Jump 5.1%; Price Adjustments Moderate<\/a><\/p><\/blockquote>\n

Meanwhile, sellers are still profiting from the hot housing market. Seventy-three percent of consumers surveyed by Fannie Mae said it\u2019s a good time to sell. They\u2019re seeing higher home appreciation: Median existing-home prices climbed nearly 18% in July over the past year, according to the National Association of REALTORS\u00ae.<\/p>\n

Here\u2019s a closer look at findings from Fannie Mae\u2019s latest National Housing Survey, reflecting August data:<\/p>\n