Fannie Mae’s Home Purchase Sentiment Index is on the Rise

According to Fannie Mae’s Home Purchase Sentiment Index (HPSI), a composite index designed to track consumers’ housing-related attitudes, intentions and perceptions, increased 9-points in June to a reading of 76.5. Currently the HPSI is down year-over-year by 15 points, but June’s gains marked the second rise in the HPSI since April’s near record low. senior vice president and chief economist of Fannie Mae said, “The share of renters who say it’s a good time to buy a home is now at its highest level in five years, suggesting favorable conditions for first-time home buying, consistent with the recent rebound in home purchase activity.”