Pessimism Among Young Drives Housing Sentiment Lower

Source: Mortgage News Daily — 

How low can it go? Well, lower than ever apparently when it comes to consumers who think it’s a good time to a home.  The total fell 1 point to a record low of 25 percent in January while 70 percent said the time was not right, a 4 point increase. This brought the net of positive responses down to -45 percent, 60 percentage points below its level a year earlier and an all-time low.

Those opinions, along with answers to three other questions in the National Housing Survey knocked Fannie Mae’s Home Purchase Sentiment Index (HPSI) down 2.4 points from its December reading to 71.8, and 5.9 points below its reading in January 2021.