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Fannie Mae: Uncertainty Weighs on Consumer Sentiment
The Fannie Mae Home Purchase Sentiment Index (HPSI) decreased 2.3 points in September to 91.5, retreating from a survey high in August. Three of the six HPSI components decreased month over month, including an eight-percentage point drop in the “Confidence About Not Losing Job” component, and seven-percentage point drop in the “Home Prices Will Go Up” component.
“Consumer sentiment remains relatively strong overall, though uncertainty about the economy and individual financial circumstances appear to be weighing on housing market attitudes a bit more than a month ago,” said Doug Duncan, SVP and chief economist at Fannie Mae.
He added, “Views about the direction of the economy held relatively steady, and the share of respondents who say it’s a good time to buy or sell a home rose slightly. However, consumers who are pessimistic about current housing market conditions are more likely to cite unfavorable economic conditions than the prior month.”
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- ◦Economy
