Fannie Mae’s Home Purchase Sentiment Index is a monthly measure of how Americans feel about the housing market, economy, and their own personal financial situation. The survey asks participants whether they feel now is a good time to buy or sell a home, whether they think mortgage rates and prices will go up or down over the next year, and how they feel about their job and income. In July, the index saw a slight decline. Among respondents, fewer said they thought it was a good time to buy a home, while the number who think it’s a good time to sell remains high. Doug Duncan, Fannie Mae’s senior vice president and chief economist, says home prices are the reason behind both responses. “The percentage of respondents citing high home prices as the top reason for it being a ‘bad time to buy’ also reached an all-time high,” Duncan said. “On the flip side, selling sentiment remains extremely high, and well above pre-pandemic levels, for the same commonly cited reason: high home prices.” (source)
