Confidence in housing is again at an all-time high in the Fannie Mae Home Purchase Sentiment Index® (HPSI), showing the share of home sellers who believe now is a good time to sell reaching a new record in June—a sure sign of a seller’s market. The HPSI overall posted 88.3, up 2.1 percentage points from May.
“The June HPSI reading matches the previous record set in February and reflects the trend toward a sellers’ market that respondents indicated last month,” says Doug Duncan, senior vice president and chief economist at Fannie Mae. “Consumers are also growing more optimistic about their ability to get a mortgage, and lenders expect credit standards to ease further going forward.”
The share of sellers who believe now is a good time to sell moved up seven percentage points in June to 39 percent, according to the HPSI. The share of homebuyers who believe now is a good time to buy, at the same time, also rose, but by just three percentage points to 30 percent.
Original content from RISMedia