The “sell” component is 19 points higher than at the same time in 2016
By Jann Swanson | Mortgage News Daily
The Fannie Mae Home Purchase Sentiment Index® (HPSI) decreased fractionally in May, however the change in each of its internal components was decidedly more pronounced. The HPSI, based on six of the questions from Fannie Mae’s monthly National Housing Survey (NHS), was 86.2, down 0.5 percent compared to April. Three of its components moved higher and three lost ground. The index is 0.9 percent higher than its May 2016 version.
The most striking changes come from answers to the questions regarding whether respondents thought it was a good time to buy and/or a good time to sell. The net share of Americans who said that now is a good time to buy a home reached a record low (27 percent) after falling 8 percentage points, while the net share who stated that it is a good time to sell a home reached a record high of 32 percent, a gain of 6 percentage points. Fannie Mae said it was only the second time in the survey’s history that the net share of those saying it’s a good time to sell surpassed the net share of those saying it’s a good time to buy. The “sell” component is 19 points higher than at the same time in 2016.
