Home buyers feeling better but still uneasy about housing market

Home buyers feeling better but still uneasy about housing market

The share of potential home buyers who believe that finding the perfect home will get easier in the months ahead has increased from 19 percent to 21 percent, according to a new report. The National Association of Home Builder’s Housing Trends Report for the third quarter of 2019 shows that the number of prospective home buyers who think house hunting will get harder has decreased from 71 percent in Q2 to 68 percent in Q3.
Older home buyers seem to have a more glass-half-empty view of the housing market in the coming months than their younger counterparts. Nearly three-fourths of Boomers expect buying options to grow more scarce compared to 64 percent of Gen Z buyers.
Meanwhile, conforming no-point 30-year fixed mortgage rates are averaging 3.875 percent and 15-year rates are near 3.375 percent.
Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.Biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.