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Fannie Housing Survey: Fear of Commitment?
Tuesday, November 10, 2015
Consumer attitude appeared more
volatile or perhaps indecisive according to their responses to October's National
Housing Survey. Fannie Mae said its Home
Purchase Sentiment IndexTM (HPSI), based on selected responses to that survey decreased
slightly to 83.2 in October from 83.8 in September.
The decline was due both to
decreasing consumer optimism over household income improvement and concern over
rising interest rates, a combination which kept housing sentiment relatively
flat. The net share of respondents who
say their household income is significantly higher than it was 12 months ago fell
4 percentage points to 11% and both the Good Time to Buy and Good Time to Sell
components were down after picking up the previous month. The majority of
respondents expect interest rates to rise over the next year although the share
of those who expect rates to go down did rise 4 percentage points to 46 percent
after several months of decreases.
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