Housing sentiment in the United States, as measured by the Fannie Mae Home Purchase Sentiment Index (HPSI), has fallen to its lowest level in more than 10 years.
In July, the HPSI declined by two points, to 62.8, the lowest level since 2011 and far below the all-time high set in 2019, according to an Aug. 8 press release. Homeowners and renters who participated in the survey expressed pessimism about current buying conditions. Only 17 percent of respondents said it is a good time to buy a home. Meanwhile, the proportion of respondents who believed it was a good time to sell a home came down, to 67 percent in July from 76 percent in May….