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Homebuyer Sentiment Takes a Nosedive in March

Posted To: MND NewsWire

American’s attitudes regarding buying and selling homes and about their own financial outlook made an abrupt U-turn last month and Fannie Mae’s Home Purchase Sentiment Index (HPSI) wiped out more than three years of gains. The index, a distillation of responses to six questions from the monthly National Housing Survey (NHS) lost 11.7 points, falling to 80.8 in March. Five of the six index components declined both from February and compared to March 2019, with four falling from the earlier surveys by double digits. This sent the HPSI falling to its lowest reading since December 2016 and down 9.0 points since March 2019. One of the most resilient components of the index has been the question regarding job security. Respondents who say they are not concerned about losing their job has consistently…(read more)

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