After its third straight month of
gains, Fannie Mae’s Home Purchase Sentiment Index (HPSI) is now at 81.7, up 0.7
point from September. The October increase was the fifth in the six months
since the Index, based on some components of the National Housing Survey,
bottomed out at a pandemic generated nine year low of 63.0. The index is still down
7.1 points from its October 2019 level. 
Three of the HPSI components
increased in October.  Questions on whether
it is a good time to buy a home or to sell one both generated increased
positive responses than in September. The percentage of respondents who say it
is a good time to buy increased from 54 percent to 60 percent, while the
percentage who say it is a bad time to buy decreased from 38 percent to 35
percent. As a result, the net share of Americans who say it is a good time to
buy increased 9 percentage points month over month and is 4 points higher than
a year ago.

 

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