Nov. 7 (UPI) -- Fewer Americans believe now is a good time to buy a home -- a trend reflected for two consecutive months, a report by Fannie Mae said Thursday.
Fannie Mae's Home Purchase Sentiment Index dipped to 88.8. The gauge measures consumers' attitudes and intentions about housing.
Just 21 percent of respondents said now is a good time to buy.
The index reached a record high in August, but has since fallen -- by 2.3 points in September and 2.7 points in October. However, it is still significantly higher (3.1 points) over the October 2018 measure.
"The 'good time to buy' component has declined notably, despite low mortgage rates, due in part to the persistent challenge of a lack of affordable housing supply," Fannie Mae Chief Economist Doug Duncan said in a statement.
The number of respondents unconcerned about their employment increased 3 points to 72 percent, the survey showed, and those who say it's a good time to sell a home fell 3 points.
The Labor Department said last month 128,000 jobs were added for October, slightly topping analysts' expectations.