Homeowner Confidence on the Skids

Homeowner confidence is on the rocks and homebuyers are pessimistic about 2011 housing market
Homeowner confidence is on the rocks and homebuyers are pessimistic about 2011 housing market

Jittery homebuyers, take heart: You're not alone. Homeowner confidence is dropping and consumers are unsure if the market has truly bottomed, according to the latest National Housing Survey conducted by Fannie Mae.

The Third Quarter 2010 Fannie Mae National Housing Survey polled homeowners and renters between July 2010 and September 2010 – prime home-buying months – and the response was less than sunny. Despite historically low mortgage rates, just 68 percent of respondents thought it was a good time to buy a home, down 2 percentage points from June, while 29 percent thought it was a bad time to buy, up 3 percentage points from the last survey.

But are we placing our bets too soon on the 2011 housing market?