Fannie Mae reports that its Home Purchase Sentiment Index (HPSI) remained relatively flat in May, decreasing by only 0.3 points to 68.2 but inching nearer its 10-year- and pandemic-low of 63 from April 2020. Surveyed consumers continue to express concerns about housing affordability, with the Good Time to Buy indicator reaching a new survey low, as 79% of respondents reported that it’s a bad time to buy a home.
Additionally, 70% of respondents expect