We just knew this would be coming, given the sky-high home prices and the spike in mortgage rates: Homebuyer sentiment deteriorated further to a new low.
The percentage of people who said that now is a “bad time to buy” a home jumped to 73%, another record-worst in the data going back to 2010, according to Fannie Mae’s National Housing Survey for March, released today. Sentiment started to deteriorate sharply in February 2021.
Watch those falling knives.