Jun 15, 2017
There has never been a better time to sell a home.
That’s the conclusion of Fannie Mae’s most recent Home Purchase Sentiment Index (HPSI). According to a release from the government-sponsored enterprise, May’s numbers saw the net share of those who think this is a good time to put a house on the market jump by six points reaching 32 percent and setting a new record high.
It was only the second time ever that respondents who believed it was a good time to sell outpaced those saying it was a good time to buy. Those who felt it was a buyer’s market withered to a record-low 27 percent, an eight-point tumble from the previous month.
The overall HPSI edged off by half a point to 86.2 though that’s nearly a full point above where it was at this time last year.
While realty news dominated by scarce inventory has been a constant annoyance for home buyers, respondents do foresee a brighter future for them. The share of those who believe mortgage rates will come down over the coming year advanced five points while those who predict higher home prices fell by the same amount.
However, Fannie Mae’s analysis anticipates continued high prices unless supply begins to loosen.
Fannie Mae’s numbers give mixed results on the employment front with Americans indicating somewhat higher incomes but somewhat less job security.