Housing sentiment still optimistic, but losing momentum

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By Jann Swanson | Mortgage News Daily

Americans may still feel it is a good time to sell a home and a so-so one for home purchases, but, in June at least, they were feeling a little edgy about their job security.  Fannie Mae says its Home Purchase Sentiment Index, a measure based on results from the National Housing Survey (NHS), declined last month from new survey highs reached in April and May.

The Index was down 1.6 points to 90.7 in June, the drop attributed to four of the six components that go into its calculation. The Index is 2.4 points higher than in June 2017.

Mortgage News Daily

The net share of survey respondents who said that now is a good time to buy a home was unchanged from May at 28 percent, well below the February 2017 high of 51 percent. The net is the percentage of positive responses minus negative ones.  Fifty-nine percent of respondents still think it is a good time to buy.

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