Housing Sentiment in the First Quarter of 2023
Freddie Mac’s quarterly housing outlook pulse survey evaluates public sentiment on housing-related issues. In the first quarter of 2023, market confidence rebounded somewhat quarter-over-quarter, after reaching its lowest point since tracking began in March 2020, while payment concerns remained relatively unchanged among both homeowners and renters.
We are also keeping a pulse on the following four key areas of the housing market.
- 43% are confident the housing market will remain strong over the next year. This is up 9 percentage points from last quarter, but down 15 percentage points compared to last year.
- 59% of renters and 28% of homeowners spend more than 30% of their monthly income on housing.
- 54% are concerned about making housing payments. This is true for 70% of renters and 44% of homeowners.
- 18% say they are likely to buy a home in the next six months.
- 14% of homeowners say they are likely to sell in the next six months.
- 16% of homeowners say they are likely to refinance in the next six months.
Freddie Mac’s Market Insights team partners with Heart+Mind Strategies to field its housing outlook pulse survey. This survey, conducted online February 10-16, 2023, included 1,109 interviews. Quotas were used to ensure a representative population on age, gender, ethnicity and region.
Interested in more consumer research? Gain insights into the housing market from surveys of homebuyers, homeowners and renters in Freddie Mac Consumer Research.