Consumer Confidence in Housing Remains Near All-Time High Despite Slight Dip
Fifty-Nine Percent of Americans Believe It's a Good Time to Buy a Home
WASHINGTON, DC – The Fannie Mae Home Purchase Sentiment Index® (HPSI) dipped slightly in February, decreasing 0.5 points to 92.5 but remaining near its survey high of 93.8. Three of the six HPSI components decreased month over month, including the percentage of Americans who believe that now is a good time to buy a home. Year over year, the HPSI is up 8.2 points, reflecting in part consumers’ more favorable mortgage rate expectations, despite that index component moderating this month.
“The HPSI remained relatively steady in February, reflecting another month of robust consumer sentiment consistent with strong housing market data to start the year,” said Doug Duncan, Senior Vice President and Chief Economist. “In particular, household income sentiment picked back up as more workers saw their wages rise amid tight labor market conditions, helping bolster already strong housing demand. Though American consumers’ optimism about the direction of the economy is higher this month than at any point in the survey’s nearly ten-year history, the late February stock market decline, precipitated in part by evolving expectations of the potential economic impact of the coronavirus, is not fully reflected in this month’s results due to the timing of our survey data collection, which ended February 22. We may see some volatility in sentiment in the months ahead as these circumstances play out.”
On this webpage you will find a news release with highlights from the HPSI and NHS results, the latest Data Release highlighting the consumer attitudinal indicators, month-over-month key indicator data, an overview and white paper about the HPSI, technical notes providing in-depth information about the NHS methodology, the questionnaire used for the survey, and a comparative assessment of Fannie Mae’s National Housing Survey and other consumer surveys.
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National Housing Survey Monthly Indicators Archive
Click here for an archived list of Fannie Mae's National Housing Survey Monthly Indicators.