1. A Good Time to Buy? – Even with the HPSI remaining at a high level, specific elements of the index declined in a marked fashion, most noticeably the section of the index that tracks consumer interest in home buying. According to the index, 60 percent of respondents think now is a good time to buy, down from 63 percent in August; meanwhile, the share who think it is a bad time to buy rose 2 percentage points to 31. Contrasting those two metrics – Fannie calls it the “Net Good Time” measure – comes out to 29 percent, which is tied for the lowest level in the survey’s history.
2. A Great Time to Sell – While homebuyers are feeling pessimistic, home sellers are having the time of their lives. The share of respondents who think it a good time to sell was 53 percent, a slight dip from the summer’s 56 percent but far above the 39 percent of two years ago; amidst that rise, the share who think it a bad time to sell has fallen in equal measure, dropping from 51 percent in Sept. 2014 to 38 percent today.
Bob Idakaar GRI