Housing Confidence Continues Upward Trend
The Fannie Mae Home Purchase Sentiment Index® (HPSI) increased in April 2023 to its highest level since May 2022. All six of the HPSI’s components increased month over month, most notably the component associated with consumers’ expectations of mortgage rates.
The HPSI is constructed from consumers’ answers to six of the National Housing Survey (NHS) survey questions regarding consumers’ evaluations of housing market conditions and address topics that are related to their home purchase decisions. These 6 questions ask consumers their opinion on it being a good time to sell or buy a house, their opinion on changes in home prices and interest rates, and their opinion about their job status and household income.
Fannie Mae launched the National Housing Survey (NHS) in 2010 to generate new information about consumer attitudes, intentions, and financial conditions that pertain to housing and mortgage markets. The NHS is the only large, national, monthly survey of consumers focused primarily on housing. The responses of the nationally-representative sample of 1000 consumers each month to about 100 survey questions promptly provide information on a wide range of housing-related topic.
Visit Fannie Mae for more information regarding the NHS and HPSI
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