A new reading on consumer housing sentiment saw its index measuring whether it's a good time to buy hit an all-time survey low in April, according to Fannie Mae, sponsor of the research.
Washington, D.C.-based Fannie Mae measures consumer sentiment on buying and selling with its monthly Home Purchase Sentiment Index (HPSI). A May 9 release on the survey findings stated that overall consumer housing sentiment remained generally flat. The index distills information from Fannie Mae's National Housing Survey[R] into a single number about consumers' home purchase sentiment.
On the flip side of the sour sentiment over whether it's a good time to buy, those saying it was a good time to sell rose, according to the latest survey findings. The HPSI Good Time to Sell component approached an all-time survey high in April, recording the largest increase of the six HPSI components, according to Fannie Mae.
"The net share of consumers who think now is a good time to sell a home rose 16 percentage points," Fannie Mae reported.
Some highlights from the latest results included the fact that the net share of Americans who say it is a good time to buy a house fell 3 percentage points to 30 percent. The net percentage saying it was a good time to sell rose to 15 percent in the April data.
The net share saying home prices will go up reached 37 percent. The net share saying their household income is significantly...