Fannie Mae’s Home Purchase Sentiment Index (HPSI) increased 2.1 percent in June, matching the all-time high it reached in February.
Four of the six components measured by the HPSI increased in June, including the net share of Americans who said now is a good time to sell a home (up 7 percentage points).
The share of Americans who said now is a good time to buy a home increased 3 percentage points. Americans surveyed by Fannie Mae also believe mortgage rates will decrease over the next 12 months, and an increasing share predicted home prices will continue to rise.
“The June HPSI reading matches the previous record set in February and reflects the trend toward a sellers’ market that respondents indicated last month,” Fannie Mae Senior Vice President and Chief Economist Doug Duncan said in a release.
“Consumers are also growing more optimistic about their ability to get a mortgage, and lenders expect credit standards to ease further going forward. While consumer optimism on this metric is as high as we’ve seen in the survey’s seven-year history, it’s worth noting that this record is relative to the fairly tight standards in place post-crisis when we started collecting National Housing Survey data,” Duncan added.