Mon, 08 August 2022 | housing
Fannie Mae's Home Purchase Sentiment Index (HPSI) decreased 2.0 points in July to 62.8, its lowest level since 2011. Surveyed consumers continue to express pessimism about homebuying conditions. Only 17% of respondents say it's a good time to buy a home. The percentage of Americans who say home prices will go up or down in the next 12 months has decreased. The percentage who say it's a good time to buy a home has increased, but not at the same rate as those who think mortgage rates will go down. Home Purchase Sentiment Index (HPSI) distills consumer sentiment from Fannie Mae's National Housing Survey. The HPSI reflects consumers' current views and expectations of housing market conditions. The net share of those who say their household income is significantly higher than it was 12 months ago increased.