Housing Sentiment Index Falls From All-Time High

Posted To: MND NewsWire

Fannie Mae's Home Purchase Sentiment Index (HPSI) was down slightly in August, dipping 1.5 percentage points to 85.0. The index, based on the company's National Housing Survey (NHS) reached its all-time high in July. Two of the six index components suffered serious reversals in their numbers compared to July while two others had less dramatic dips. Despite the monthly decline the index is still 4.2 percentage points above where it was in August 2015. The component reflecting net positive sentiments about whether it is a good time to sell a house dropped 5 points to 15 percent while the share of consumers who expect home prices to rise over the next year fell 6 points to 35 percent. There were smaller declines in the net of those expecting mortgage rates to decline and reporting improving household...(read more)

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