Consumers Still Wary Towards Home Buying
Fannie Mae’s monthly survey of consumers’ attitudes toward buying or selling a home and their own financial situation showed a mixture of sentiments in March. The Home Purchase Sentiment Index (HPSI), which is derived from six questions on the National Housing Survey, rose 3.3 points which brings it slightly higher than its all-time low in November of last year. It is down 11.9 points compared to March 2022.
Four of the six components of the Index improved their February level, but the net positive responses of the two components dealing with home buying and selling are lower than a year earlier by double digits. Only 20 percent of those surveyed said it was a good time to buy a home, with which 79 percent disagreed. The 60 percent net positive was 1 point lower than the prior m
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