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Housing Confidence Dips, But Remains Near Survey High
Fannie Mae’s Home Purchase Sentiment Index (HPSI) fell by 0.5 points in June 2019 to 91.5, after nearing its survey high the month before. However, “growing expectation that mortgage rates will remain steady suggest improved stability for housing affordability, and helped keep the HPSI relatively flat this month,” said Fannie Mae’s Doug Duncan.
The report also noted:
- The net share of Americans who say it is a good time to buy a home fell to 23%.
- The net share of those who say it is a good time to sell a home remained at 43%.
- The net share of those who say home prices will increase over the next year decreased to 38%.
- The net share of Americans who say mortgage rates will go down over the next year increased to -29%.
The HPSI distills information about consumers’ home purchase sentiment from Fannie Mae’s National Housing Survey (NHS) into a single number.
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- ◦Economy
