CCS - Home Purchase Sentiment Index ends rising streak with November drop

The Fannie Mae (FNMA) Home Purchase Sentiment Index ((HPSI)) in November dipped by 1.7 points to 80.0, its first decline after three continuous months of increases; HPSI is down 11.5 points Y/Y.Three of the six HPSI components decreased M/M, with consumers reporting a more pessimistic view of homebuying conditions, including mortgage rate expectations, but a more optimistic view of home-selling conditions and home prices."Drilling down a bit, home purchase confidence has recovered more for homeowners than for renters, in part because homeowners have been less likely than renters to have had their jobs and finances impacted by the pandemic," SVP & Chief Economist Doug Duncan commented.The percentage of respondents who say it is a good time to buy a home decreased from 60% to 57%; percentage who say it's a bad time to sell decreased from 35% to 33%; percentage of respondents who say home prices will go up in the

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Home Purchase Sentiment Index ends rising streak with November drop