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Near-Record Confidence in Housing

According to the Fannie Mae Home Purchase Sentiment Index® (HPSI), confidence in housing has made a near-record return in November. THE HPSI reported a 2.6 percentage increase to 87.8.

“In November, the HPSI rebounded to near its all-time high, returning the Index to its gradual upward trend and suggesting fairly stable consumer home-buying attitudes.” Says Doug Duncan, chief economist and senior vice president at Fannie Mae. “These results are consistent with our expectation that the housing market will continue its modest expansion going forward.”

29 percent of homebuyers surveyed for the Index believe now is a good time to buy a home, while 34% of sellers believe now is a good time to sell. 46 percent of those surveyed think home prices will go up. All of these statistics saw an increase from the last survey.