If you’re worried about the housing market, CNBC 's Diana Olick reports that you’re not alone.
With mortgage rates risings, low inventory, and pre-election jitters, it’s no wonder the share of consumers who think now is a good time to buy a home fell 5 percentage points in September in a monthly housing sentiment survey (HPSI) by Fannie Mae.
And the September employment report was mixed for housing. "A blah September jobs report gives no impetus for anything on the economy's to do list: There's no sign of an overheating economy that would justify a rate hike; no groundswell of construction hiring that would finally hint at a return to a normal pace of housing starts; no big wage gains that would give hope for renewed productivity gains. Just a stubbornly average report at a time when the economy is looking for a jolt of the spectacular," wrote Redfin's chief economist, Nela Richardson.