Dive Brief:

• In March, 60% of consumers said they would buy a home if they were to move, fewer than during any other month since Fannie Mae started asking that question on its National Housing Survey in 2010.

• Survey respondents indicated a lack of confidence in their personal financial standing and their prospects for income growth. Still, more consumers believe now is a good time to buy a home—more than during any other month since 2010.

• “Consumers are being patient prior to entering the housing market,” Fannie Mae Chief Economist Doug Duncan said in a press release Wednesday. But he added: “We believe the recent setback in consumer sentiment should be short lived if early signs of income growth bear out and occur in proportion to expected interest rate increases. Meanwhile, the wait for housing expansion continues.” 

Dive Insight:

Other news Wednesday contradicted Fannie Mae’s findings. The Mortgage Bankers Association reported that the volume of applications for home loans increased 0.4% last week to its highest level since July 2013. The association also said plenty of mortgage credit is available to potential homebuyers, as lending standards are easing.