Red-hot home prices have more consumers saying now is a bad time to buy

People wait to visit a house for sale in Floral Park, Nassau County, New York.

Wang Ying | Xinhua News Agency | Getty Images

Anyone out hunting for a house knows that bidding wars are no longer the exception, but the rule.

Demand for housing has been unusually strong, due to the coronavirus pandemic, and supply is historically lean. That is a recipe for high prices, which are now beginning to take their toll on potential homebuyers’ confidence.

The share of buyers who say they think it’s a good time to buy fell in September, from 59% to 54%, according to a new survey from Fannie Mae.

Home values were up nearly 6% annually, according to CoreLogic, a data analytics firm. More consumers now expect those price gains to grow.

The percentage of respondents to the Fannie Mae survey who says prices will go up in the next year increased

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Red hot home prices have more consumers saying now is a bad time to buy

  • The share of buyers who say they think it’s a good time to buy fell in September, from 59% to 54%, according to a new survey from Fannie Mae.
  • More people do think now is a good time to sell a home, which is an improvement from the first months of the coronavirus pandemic, when potential sellers didn’t want shoppers in their homes and worried about the state of the overall economy.



a group of people standing in front of a building: People wait to visit a house for sale in Floral Park, Nassau County, New York.


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People wait to visit a house for sale in Floral Park, Nassau County, New York.

Anyone out hunting for a house knows that bidding wars are no longer the exception, but the rule.

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Demand for housing has been unusually strong, due to the coronavirus pandemic, and supply is historically lean. That is a recipe for high prices, which are now beginning to take their toll on potential homebuyers’ confidence.

The share of

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Consumers Energy hasn’t shut off power to non-paying homes since COVID-19 pandemic hit

More people can’t pay their Consumers Energy bills in 2020 than before because of the pandemic, but the company hasn’t shut off service to any households since COVID-19 hit Michigan in March.



a close up of a clock: Consumers Energy is offering help to pay energy bills for people affected by COVID-19.


© Neil Blake | [email protected]/mlive.com/TNS
Consumers Energy is offering help to pay energy bills for people affected by COVID-19.

Consumers is putting up $12 million to help customers affected by the pandemic pay their bills, the utility announced Tuesday, Sept. 29. The plan is to help at least 25,000 households and 1,000 small businesses with the funding, per a news release.

For a small percentage of the funding, anybody who makes 400% of the federal poverty level or less is eligible to get help – which equates to about $51,000 or less for individuals and $104,000 or less for a family of four.

The company hasn’t specified how somebody must be affected by COVID-19 to be eligible

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