Housing Sentiment Rebounds, Returns to Likely Plateau

Consumers Slightly More Optimistic about Homebuying and Home-Selling Conditions, But Affordability Pessimism Persists

WASHINGTON, July 8, 2024 /PRNewswire/ — The Fannie Mae (OTCQB: FNMA) Home Purchase Sentiment Index^® (HPSI) increased 3.2 points in June to 72.6, rebounding from last month’s dip and returning the index nearer the plateau it set earlier this year. This month, 19% of consumers indicated that it’s a good time to buy a home, up from 14% in May, which represented a new survey low. The share believing it’s a good time to sell also increased, rising from 64% to 66%. Greater shares of consumers also indicated belief that home prices and mortgage rates would rise over the next 12 months. Among the household finance components, the percentage of consumers expressing a sense of job security jumped to 79%, an increase of 4 percentage points compared to May. The full index is up 6.6 points year over year.

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