High interest rates and soaring prices are killing Americans' faith in the U.S. housing market. Just 21% of U.S. adults say now is a good time to buy a house, according to a new poll from Gallup. That's the lowest homebuyer sentiment has ever been in data going back to 1978, when the organization first asked Americans the question. It's also the second year in a row that sentiment has hit a new low—last year, just 30% of homebuyers thought the housing market was good for buyers.
To put in perspective how rapidly the mood has shifted, the record low before those two years was 50%, and that just happened in 2020.
