Each month, Fannie Mae conducts a survey of Americans to gauge perception of the housing market and overall economy. The survey asks participants whether they believe mortgage rates and home prices will go up or down over the next year, how secure they feel in their jobs, whether their income has increased or decreased, and whether they believe now is a good time to buy or sell a home. The resulting Home Purchase Sentiment Index is a measure of how consumers feel about today’s market. According to the most recent release, Fannie Mae found sentiment improved in April, with the index up 1.1 points from the month before. Among the highlights, the survey found that, though participants still feel cautious, the share who believe it’s a good time to buy a home increased 1 percent from the month before. The number of respondents who say it’s a good time to sell, on the other hand, fell from the previous month. Also, Americans say they think home prices will increase over the next year but mortgage rates will stay about the same. (source)
