AgentIndustry News

First-ever Home Purchase Sentiment Index shows waning housing market optimism

Monthly Fannie Mae index provides new insights into housing market climate

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Takeaways: Fannie Mae announced the launch of the Home Purchase Sentiment Index (HPSI). Consumer attitudes toward the current home selling climate have slid back to their April 2015 level, contributing to a slight decline in the August HPSI. Respondents also seem to feel that home prices will increase in the next year, with 47 percent expressing that sentiment. Expectations of rising mortgage rates and unstable economic conditions are making consumers slightly pessimistic about buying homes, according to a new consumer sentiment survey about the housing market launched by Fannie Mae. However, because many consumers are optimistic about the job market and their household finances, they aren’t turning their backs on the housing market just yet, Fannie Mae said. The government sponsored enterprise today announced the launch of the Home Purchase Sentiment Index (HPSI), which builds on Fannie Mae’s existing National Housing Survey and offers additional insights abou...