The good news from a new National Association of Realtors® (NAR) survey is that a large majority of respondents think it is a good time to buy a home. The bad news is that the largest percentage of those who gave that response are likely to already own one. NAR's third quarter Housing Opportunities and Market Experience (HOME) survey found 63 percent of respondents believing it is now a good time to buy, with 34 percent saying they believe that strongly. This is down slightly from the 65 percent who expressed that sentiment in the second quarter and the 38 percent who felt strongly about their response.
NAR's chief economist Lawrence Yun said the favorable outlook also contains a degree of caution. "Mortgage rates are at historically low levels, so I see no sign of the optimism about home buying fading," he said. "However, the fact that slightly fewer are expressing strong intensity compared to recent prior quarters is implying some would-be buyers have concerns about the direction of the economy."
Please click the following link to read the entire article in Mortgage News Daily: NAR Sees No Sign of Homebuying Optimism Fading