More Americans think it's a good time to buy a house, according to results of Fannie Mae's August edition of its Home Purchase Sentiment Index[R] (HPSI). The company found the share of
Americans who said it was a good time to buy rose by a full percentage point to 34 percent in the August reading. That was the third straight monthly increase in the net share of people saying it was a good time to purchase.
But the share of respondents saying it was a good time to sell fell by 5 percentage points in August from an all-time high in July.
Fewer people said they expect home prices to rise. That number fell by 6 percentage points to 35 percent in the August reading. The share expecting mortgage rates to fall over the next year dropped 2 percentage points.
Some of the rising sentiment can be attributed to rosier expectations for personal financial circumstances. The August index found the net share of Americans who say they are not concerned with losing their job rose by 4 full percentage points to reach 73 percent.
However, in June there was a steep fall in the share of households who said their household income was significantly higher than it was 12 months ago. In August the share expressing that sentiment fell by 1 percentage point to 10 percent...