Homebuyer “Pessimism” Hits Bleak Record on Sky-High Prices, Spiking Mortgage Rates. Great Time to Sell, Though. Just Do It | Wolf Street

The percentage of people who said that now is a “good time to buy” a home plunged to a record low of 24%.

The percentage of consumers who said that the economy is on the wrong track jumped 5 percentage points to 73%, according to the Fannie Mae survey, up from 51% in March last year. The surge of the wrong-trackers started in May as consumers became aware of their nasty new companion in daily life: the worst inflation many people have ever experienced as adults.

The percentage of people who said that the economy was on the right track fell 3 percentage points to 21%.

Given the sky-high prices and the still very low supply, and the ease with which a house can still be sold without jumping through all kinds of hoops, the percentage of people who said that now is a “good time to sell” rose to 74%, in the same record-lofty range since June last year. So… Just do it! Put it on the market… before everyone else does.

Homebuyer “Pessimism” Hits Bleak Record on Sky-High Prices, Spiking Mortgage Rates. Great Time to Sell, Though. Just Do It | Wolf Street