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Survey: buyer sentiment shifting along with housing market

Posted on Thursday, September 5, 2013 at 12:12:20 PM

A lot of things go through home buyers' minds. Residential financing might be able to remove some concerns, while rising mortgage rates have contributed to a number of people approaching real estate differently than earlier in the year.

Although the number dropped slightly from the previous quarter, 63 percent of the people surveyed by real estate company Redfin reported that they still felt that now was a good time to sell. Many people are changing how they view the market, however, and a significant portion of the survey group reported that changing mortgage rates have resulted in them either speeding up their home search or slowing it down.

Redfin economist Ellen Haberle explained that the fluctuating rates might affect buyer activity in the coming months. She added that the survey highlighted the level of buyer sensitivity to any mortgage rate changes. 

Despite the shifting consumer sentiment, more homeowners are avoiding foreclosures and short sales, according to the U.S. Home Equity and Underwater Report from RealtyTrac. Residential financing is a viable option for many, and less people are having trouble making payments at the moment.