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HPSI Dips, Ends 2017 on a Cautious Note
Wednesday, January 10, 2018 6:35 AM

Fannie Mae's 2017 Home Purchase Sentiment Index (HPSI) decreased in December by 2.0 points to 85.8. The HPSI is up 5.1 points compared with the same time last year.

Home Purchase Sentiment Index - December 2017

  • The net share of Americans who say it is a good time to buy a home fell 5 percentage points to 24 percent, erasing much of last month's rise.
  • The net percentage of those who say it is a good time to sell remained unchanged at 34 percent.
  • The net share of Americans who say home prices will go up fell 2 percentage points to 44 percent in December.
  • The net share of those who say mortgage rates will go down over the next 12 months fell 1 percentage point to -52 percent.
  • The net share of Americans who say they are not concerned about losing their job fell by 6 percentage points to 68 percent.
  • The net share of Americans who say their household income is significantly higher than it was 12 months ago rose 2 percentage points to 16 percent.

"Consumers remained cautious in their housing outlook at the end of 2017, as tax reform discussions continued," said Doug Duncan, senior vice president and chief economist at Fannie Mae. "In December, mirroring the other major consumer sentiment benchmarks, the HPSI reflected this caution and declined slightly. Entering 2018, housing affordability remains a persistent challenge, particularly in rental markets, where consumer expectations for price increases over the next 12 months reached a new survey high."

To learn more about Fannie Mae's Home Purchase Sentiment Index and National Housing Survey consumer attitude measures, please click here.