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Homebuyer Sentiment Continues Previous Decline
Friday, August 7, 2020
Fannie Mae's Home Purchase Sentiment Index (HPSI) faltered
a bit in July as it tried to recover from its 29.5-point aggregate plunge in
March and April. The index, derived from six questions on the National Housing
Survey (NHS), decreased 2.3 points in July to 74.2. Three of the components deceased from June
levels, led by a significantly more pessimistic view of homebuying conditions.
The HPSI is down 19.5 points from its July 2019 level. The percentage of respondents who
say it is a good time to buy a home decreased from 61 percent to 53 percent,
while the percentage who say it is a bad time to buy increased from 27 percent
to 38 percent. As a result, the net share of Americans who say it is a good
time to buy decreased 19 percentage points to 15 percent.
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