After falling sharply in March, housing confidence among consumers took an even deeper dive in April, according to the Fannie Mae Home Purchase Sentiment Index.
by Diana Olick
CNBC.com
The economic free fall from Covid-19 is taking its toll on what had been very strong housing demand and sentiment just a few months ago.
After falling sharply in March, housing confidence among consumers took an even deeper dive in April, according to the Fannie Mae Home Purchase Sentiment Index. It was the lowest level since November 2011. Back then, the market was reeling from the subprime mortgage crisis, with home prices cratering and foreclosures rampant.
Consumers suddenly have a much more pessimistic view of buying and selling conditions. In addition, more consumers said their household income is now significantly lower than it was a year ago.