Fannie Mae's Home Purchase Sentiment Index[TM] (HPSI) rose 1.2 percentage points in February. The index is up 1.2 points since February 2015, according to the company.
The number saying it is a good time to buy a house rose 4 percentage points in February compared with the month before. Increasing job security seemed to play a role in the rising purchase sentiment. The company found that the net share of those responding who said they are not concerned with losing their job rose by 4 percentage points to 75 percent.
The share of those saying that their household income is significantly higher that one year ago rose by 3 percentage points to 15 percent, according to Fannie Mae.
However, the share of respondents saying that now is a good time to sell a house fell by 2 percentage points to 7 percent. This sentiment is a factor that contributes to a shortage of inventory for sale.