Fannie Mae survey confirms: It’s a seller’s market
First-time homebuyers face particular obstacles
After two consecutive months of advances, Fannie Mae’s Home Purchase Sentiment Index, a composite index designed to track consumers’ housing-related attitudes, intentions and perceptions, fell 2.3 points in July to 74.2. Year over year, the HPSI is down 19.5 points but still sits above April’s near-record low.
According to the report, 53% of Americans now believe it is a good time to buy a home – an 8% decrease from June’s 61%. On the flip side, the percentage of people who believe it is a good time to sell increased 4% last month to 45% as July reports reflected a seller’s market.