From the Real Deal:
Fewer Americans are in the home-buying mood. Rising interest rates and housing prices prices, coupled with slowing rent growth are making homeownership less attractive.
New data from Freddie Mac found 78 percent of Americans now consider renting to be more affordable than buying a home, up sharply from 67 percent six months ago, according to the Wall Street Journal. And the long-term outlook shows 58 percent of renters say they have no plans to buy a home, up from 54 percent over the same period.
That means demand for homes on the market could remain soft in the coming months. Home sales across the U.S. are slowing because of low inventory and high prices, according to recent reports.