Consumer perception of the housing market ticked up slightly in December, as potential buyers remain bullish about making a home purchase in 2020, a Fannie Mae report said.
The Home Purchase Sentiment Index for December rose to 91.7, up 0.2 points
That turned around by mid-year 2019, with August setting
"The continued strength in the HPSI attests to the intention among consumers to purchase homes. This is consistent with the Fannie Mae
While the majority of those surveyed still said now is good time to buy a home, the percentage fell to 59% from 61% in November. On the other hand, those who disagreed with that statement increased to 32% from 27%, meaning the net share (the difference between the two sentiments) fell to 27% from 32%. A year ago, the net share was 11%.
Meanwhile, 65% of respondents felt now is a good time to sell, down from 66% in November. At the same time, those who considered it a bad time sell fell to 22% from 26%. That resulted in an increase in the net share to 43% from 40% in November. The net share in December 2018 was 36%.
Exactly half of the respondents expected
When it came to mortgage rates, consumers remained firmly in the view they were
Stay the same got the largest response at 46% (compared with 42% in November), while 39% said they were more likely to rise, which was unchanged from last month.
The survey was taken between Dec. 1 and Dec. 19, before the shift in investor sentiment that