Talking Points
- Consumer housing sentiment remained generally positive, which bodes well for the continued growth of housing in the United States, according to Fannie Mae’s Home Purchase Sentiment Index (HPSI) for August 2016.
- Despite experiencing some over-the-month declines, including an overall decline of 1.5 points down to 85.0 in August (falling from July’s reading of 86.5, an all-time high in the one-year history of the HPSI) and monthly declines in four of the six components that make up the HPSI, the index continued on its gradual upward trend from August 2015.
- Consumers have a fairly optimistic 12-month outlook on housing at the end of the summer home-buying season, supported by increased job confidence and more favorable expectations regarding their personal financial situations compared with this time last year.