Homebuying Sentiment Hits All-Time Low: Sign of Despair? Here's Why Not

While Americans in general feel pretty good about their household incomes and job security, the red-hot housing market caused a dramatic plunge in their attitudes about buying a new place now. The survey contains six components that the GSE's research team bundles into a Home Purchase Sentiment Index (HPSI), which this time around recorded the lowest sentiment in the survey's 11-year history as to whether it's "a good time to buy." Only 35% of the respondents felt that way when the survey was conducted in May, a drop of 18 percentage points from March, when 53% felt that way, Fannie Mae said in its report.