Fannie Mae’s Home Purchase Sentiment Index (HPSI)
declined slightly in February as did four of its six components. The Index,
based on a sample of answers to the company’s monthly National Housing Survey,
dipped 1.2 points to 76.5. It is down 16 points from its level in February
Consumer sentiment soured significantly on the
question of whether it is a good time to buy a house
. Forty-eight percent of
respondents called it a good time and 43 percent a bad time for a net positive
of 5 percent. This is down 10 points compared to January and 23 points lower
Attitudes toward selling a home fared
a little better. Those who say it is a good time to sell decreased from 57
percent in January to 55 percent, while the percentage who say it’s a bad time
to sell increased from 33 percent to 35 percent. This left a net 20 percent who
said it was a good time, a 4 percent downturn for the month and 25 percent lower
than a year earlier.


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