Latest Fannie Mae Survey Shows Purchase Pessimism at New Peak

Latest Fannie Mae Survey Shows Purchase Pessimism at New PeakAccording to Fannie Mae’s July Home Purchase Sentiment Index (HPSI), consumer pessimism towards buying a home is at a new high, as low inventory and elevated home prices continue to push more and more Americans away from attempting to purchase a house.

The GSE’s survey reported that 66% of respondents feel it’s currently a bad time to buy a home (up 2% from June), while 75% believe that now is a good time to sell a home.

The housing market may be feeling this trend, as a recent® report found that the U.S. median listing price continued to moderate in July, with the data attributing this moderation to the increase in lower-priced homes for sale – as new listing grew on a yearly basis for the 4th consecutive month.

For more information, including additional survey metrics, check out Fannie Mae’s July HPSI Report.

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