As
The Home Purchase Sentiment Index rose to 77.5 in August
Positive consumer attitudes toward buying conditions dwarfed negative feelings by 24 percentage points. The percentage of good-time-to-buyers jumped 6 points month-to-month and 1 percentage point from a year ago. The group who felt it was a bad time to buy shrunk by 3 percentage points month-over-month while increasing 2 percentage points year-over-year.
Selling sentiment had a net positive score of 4 percentage points in August, a 7-point improvement from July but a 36-point drop from August 2019. Optimism for sellers rose 3 percentage points month-over-month to 48%, but lags the 65% share year-over-year.
"The HPSI's recovery was driven by near-record low mortgage rates that helped restore much of consumers' positivity on whether it is a good time to buy a home, while also improving the good-time-to-sell sentiment," Doug Duncan, senior vice president and chief economist at Fannie Mae, said in a press release. "The August survey was conducted as consumers continue to face uncertainty regarding schools' and businesses' reopening plans and as the CARES Act $600-per-week income supplement expired."
While worries over employment in the next 12 months remained inflated from year-ago feelings, the