first_img 2021-05-07 Christina Hughes Babb Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Market Studies, News Data Provider Black Knight to Acquire Top of Mind 2 days ago A serious dearth of inventory is making the prospect of home shopping and homebuying too daunting for a majority of Americans today, according to Fannie Mae’s National Housing Survey. In fact, consumers’ pessimism toward homebuying conditions in April set a survey record.”The Fannie Mae Home Purchase Sentiment Index decreased in April by 2.7 points to 79.0. Four of the HPSI’s six components decreased month over month, most notably the component related to homebuying conditions, which turned net negative for the first time in the survey’s history,” according to a press release from Fannie Mae.Consumers continued to show optimism when it comes to selling a home, a component that continued its significant rise from this time one year ago. Home-selling sentiment has nearly returned to its pre-pandemic peak, rising 16.0 points year-over-year.”April’s HPSI reading appears to have been acutely impacted by the ongoing lack of housing supply despite improving economic conditions,” said Doug Duncan, SVP and Chief Economist. “Consumer sentiment toward buying homes reached the lowest level in our survey’s ten-year history; unsurprisingly, respondents overwhelmingly cited the lack of supply and high home prices as primary reasons for their pessimism. The decrease in homebuying sentiment likely indicates that some consumers, potentially flush with savings—perhaps boosted in part by stimulus payments—may be attempting, but failing, to buy a home due to heightened competition for relatively few listed homes. Notably, consumers in the household income range of $50,000 to $100,000, a range inclusive of the Census Bureau’s reported median household income level, showed a particularly large decrease in overall housing sentiment, and we know that the housing market serving the affordable segment has been particularly competitive.”Duncan continued, “Conversely, consumer positivity regarding home-selling conditions nearly matched its all-time high, demonstrating a large divergence in perceived conditions between sellers and buyers, as measured by the gap between the two components. As has become standard discourse in the housing industry recently, increasing the supply of homes for sale would certainly help bring balance to this strong seller’s market, but unfortunately, the most recent data doesn’t suggest that inventory is likely to improve in the near future.”The full report is available at FannieMae.com.  Share Save Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago 23 days ago 3,128 Views  Print This Post Previous: Mortgage Delinquency Rate Declines at Unprecedented Pace Next: The Week Ahead: SFR Market Takes Center Stage Subscribe Housing Survey Shows Purchase Pessimism at All-Time High About Author: Christina Hughes Babb Related Articles Home / Daily Dose / Housing Survey Shows Purchase Pessimism at All-Time High Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days agolast_img read more