Fannie Mae Sentiment Index Flat in September

(Image courtesy of Aliaksei Semirski/pexels.com)

Fannie Mae released the latest results of its Home Purchase Sentiment Index, finding it was flat at 71.4 in September.

In September 2024, it stood at 73.9.

Nearly three-quarters of respondents, at 73%, think it’s a bad time to buy a house. That compares with 72% of respondents who said the same last month.

Fifty-seven percent of respondents believe it’s a good time to sell a house, down from 58% in August.

Two-fifths of respondents believe home prices will go up over the next year. On average, they believe prices will increase 1.8% over that period.

Thirty percent believe mortgage rates will increase.

Sixty-four percent believe home rental prices will go up; they predict such prices will increase 6% on average over the next year.

A good majority–75%–aren’t concerned about job loss over the next year, and 14% report that their household income is significantly higher compared with a year ago.

Just about two thirds–67%–say they would buy a home if they were going to move, down 1 percentage point from last month.

And, the share of consumers who say getting a mortgage would be difficult right now increased two percentage points to 57%.