Growing share of Americans believe home prices will fall

The share of respondents who believe home prices will decline increased to 33% in August from 30% the month prior, according to a monthly survey from Fannie Mae, while the percentage who think they will go up in the next 12 months declined to 33% from 39%. “We also observed a large decline in consumers reporting high home prices as the primary reason for it being a good time to sell a home, suggesting that expectations of slowing or declining home prices have begun to negatively affect selling sentiment.” Homebuyer confidence rebounds some Some 22% of respondents believe now is a good time to buy a home, according to Fannie Mae, up from 17% the month prior, but down from 32% a year ago.

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