Consumer attitudes perked up in March, sending the
Fannie Mae Home Purchase Sentiment Index (HPSI) up 5.2 points compared to
February. The company said four of the HPSI’s components rose during the month,
taking the index to 81.7.
The percentage of respondents who
say it is a good time to buy a home rose to 53 percent from 48 percent and
there was a 3 point decline in those who viewed the timing as bad. This left a
net of 13 points, an increase of 8 points for the month but 7 points below the
level a year earlier.
Attitudes about selling a home increased
even more. Sixty-one percent said it was a good time, up from 55 percent in
February while the percentage who say it’s a bad time dropped from 35 percent to 28 percent. As a result, the net share of
those saying it is a good time to sell increased 13 percentage points month-over-month
and 17 percent since March 2020.