Fannie Mae’s monthly Home Purchase Sentiment Index measures how Americans feel about the housing market and overall economy. Based on a survey that asks participants for their view of buying and selling a home, home prices, mortgage rates, their income and job, the survey provides a look into what Americans are thinking and how willing they may be to get into the market. According to the most recent results, Fannie Mae’s survey shows a large majority of respondents feel now is a good time to sell a house. In fact, 63 percent of survey participants said they think it’s time to sell. But while Americans think selling a house is a good idea, they’re still cautious overall. Doug Duncan, Fannie Mae’s senior vice president and chief economist, says inflation has affected sentiment . “Consumers expressed even greater pessimism toward the larger economy this month, in addition to their ongoing frustration with the housing market,” Duncan said. “Via our October National Housing Survey, 78 percent of respondents told us the economy is on the ‘wrong track’ – up from 71 percent last month – and they overwhelmingly cited inflation as the primary reason why.” (source)
