Record low inventory, surging house prices and stretched affordability have pushed the share of households who think now is a good time to buy a home to the lowest since 2010. But, at the same time, the share who plan to buy a home in the next six months has been trending up. That implies some households are buying now because they have to, perhaps because they need more space to work. With lots of pent-up demand, the decline in sentiment points to a moderation, rather than crash, in sales.
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