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Housing Confidence Hits New All-Time High
Wednesday, May 9, 2018 7:00 AM

The Fannie Mae Home Purchase Sentiment Index (HPSI) rose 3.4 points in April to 91.7, marking a new all-time survey high. The increase can be attributed to increases in five of the six HPSI components.

"The latest HPSI reading edged up to a new survey high, showing that consumer attitudes remain resilient going into the spring/summer home buying season," said Doug Duncan, senior vice president and chief economist at Fannie Mae. "High home prices and good economic conditions helped push the share of Americans who think it's a good time to sell to a fresh record high. However, the upward trend in the good-time-to-sell share seen since last spring has done little to release more for-sale inventory. The tightest supply in decades, combined with rising mortgage rates from historically low levels, will likely remain a hurdle for mobility and a persistent headwind for home sales."

Component Highlights
Fannie Mae's 2018 Home Purchase Sentiment Index increased in April by 3.4 points to 91.7. The HPSI is up 5.0 points compared with the same time last year.

  • The net share of Americans who say it is a good time to buy a home decreased 3 percentage points to 29 percent.
  • The net share of those who say it is a good time to sell rose 6 percentage points to 45 percent, reaching a new survey high.
  • The net share of Americans who say home prices will go up increased 7 percentage points to 49 percent in April.
  • The net share of those who say mortgage rates will go down over the next 12 months increased 4 percentage points to -48 percent.
  • The net share of Americans who say they are not concerned about losing their jobs increased 5 percentage points to 76 percent in April.
  • The net share of those who say their household income is significantly higher than it was 12 months ago rose 1 percentage point to 18 percent.

Learn more about Fannie Mae's Home Purchase Sentiment Index and National Housing Survey consumer attitude measures here.