Consumers are Stoked About Housing Market

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Posted To: MND NewsWire

Five of the six components that make up Fannie Mae’s Home Purchase Sentiment Index (HPSI) rose in January, pushing the index to an all-time high . HPSI, a quantification of some of the data collected through Fannie’s National Housing Survey, was 89.5, up 3.7 points from the December reading. The index is also 6.8 percentage points higher than in January 2017. The only survey question for which the net positive responses did not improve in January was whether household income had grown significantly over the previous 12 months. That score was unchanged at 16 percent. A conviction that home prices will continue to rise was the main driver of the overall index. The net of responses predicting further gains was up 8 points from December to 52 percent. This is 10 points above the net a year ago…(read more)

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