Homebuying Sentiment Stabilizes After Long, Slow Slide

Homebuying Sentiment Stabilizes After Long, Slow Slide

Fannie Mae’s Home Purchase Sentiment Index (HPSI) showed some signs of life in November, posting its first increase in nine months. The index, which distills answers to six questions from the company’s monthly National Housing Survey (NHS) gained 0.6 points compared to its all-time low in October. It is now at 57.3, remaining 17.4 points lower year-over-year. The two headline components of the index – consumers’ attitudes toward buying and selling a home – each increased slightly from their October levels but remained down by double digits from the same month in 2021. When asked if it was a good or a bad time to buy a home, positive answers increased by one point, but the net positive, (good time minus bad time answers) was a negative 63 percent, 28 points lower on an annual basis