Housing Sentiment Drifts Lower As Affordability Constraints Sharpen

 

 

Housing Sentiment Drifts Lower as Affordability Constraints Sharpen

 

The Fannie Mae Home Purchase Sentiment Index® (HPSI) decreased 2.4 points to 71.8 in January, its lowest level since May 2020. In January, a survey record-low 25% of respondents reported that it’s a good time to buy a home, compared to the 69% of consumers who reported that it’s a good time to sell. Good/Bad Time to Sell: The percentage of respondents who say it is a good time to sell a home decreased from 76% to 69%. Mortgage Rate Expectations: The percentage of respondents who say mortgage rates will go down in the next 12 months remained unchanged at 4%, while the percentage who expect mortgage rates to go up increased from 56% to 58%.