Home Purchase Sentiment Index – Component Highlights
John Jordan | September 2015
The August 2015 HPSI fell 0.5 points to 80.8, continuing the decline from the all-time high reached in June 2015. The HPSI is up 5.3 points since this time last year. On net, two components of the HPSI improved in August, with Confidence About Not Losing Job increasing three points and Good Time to Sell increasing one point. Home Price and Mortgage Rate net expectations both fell three points since last month.
The percent of respondents who said that it is a good time to buy a house rose to 63%, rising two percentage points from last month’s all-time survey low.
Those who say it is a good time to sell rose two percentage points to 47%. The percent of respondents who say it is a bad time to sell also increased to 44%.
The percent of respondents who said that home prices will go up over the next 12 months fell to 47%. The percent who said that home prices will go down rose to 9%.
The share who expects mortgage interest rates to go up in the next 12 months rose three percentage points to 54%. The share who say mortgage rates will go down remained the same at 5%.
The share of respondents who say they are not concerned with losing their job rose to 83%, while the share of respondents who say they are concerned with losing their job fell to 16%.
The share of respondents who say their household income is significantly higher than it was 12 months ago fell to 24%, while those who say it is significantly lower fell to 12%.