81% Economy Wrong Track

 

 

81% of consumers reported that the economy is on the wrong track

 

Consumers Appear Increasingly Frustrated by Housing Market, Larger Economy The Fannie Mae (FNMA/OTCQB) Home Purchase Sentiment Index® (HPSI) decreased 3.4 points in June to 64.8, its second-lowest reading in a decade. "In June, a survey-record 81% of consumers reported that the economy is on the wrong track, suggesting to us – and corroborated by other recently released consumer confidence measures – ," said Doug Duncan, Fannie Mae Senior Vice President and Chief Economist. Good/Bad Time to Buy: The percentage of respondents who say it is a good time to buy a home increased from 17% to 20%, while the percentage who say it is a bad time to buy decreased from 79% to 75%. Home Price Expectations:  the percentage who say home prices will go down increased from 23% to 27%.