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87 87 INVESTMENT GOVERNMENT PROPERTY PRESERVATION INDUSTRY UPDATES Journal Follow Us At: @DSNewsDaily HOME PURCHASE SENTIMENT DOWN AFTER HITTING PEAK Fannie Mae's Home Purchase Senti- ment Index (HPSI), this month, reported a 1.7-point decline in home-purchase sentiment following three consecutive months of increas- es, the researchers said. e HPSI stands at 80 points for November. Since last year at this time, the HPSI has dropped 11.5 points. e decline in the HPSI can be attribut- ed to net decreases in three components this month: mortgage rate outlook, job loss concern, and buying conditions. ree compo- nents saw net increases: home price outlook, change in household income, and selling conditions. "e HPSI appears to have peaked for now as consumers continue to consider how COVID-19 impacts their ability to buy or sell a home," said Doug Duncan, Fannie Mae's SVP and Chief Economist. "is follows the HPSI's recovery of slightly more than half of the loss experienced during the first few months of the pandemic." "Drilling down a bit, home purchase con- fidence has recovered more for homeowners than for renters, in part because homeowners have been less likely than renters to have had their jobs and finances impacted by the pandemic," Duncan continued. "Interestingly, the gap between the HPSI broken out by the homeowner and renter subgroups hit a survey high in August but, despite narrowing slightly, remains elevated and well above the survey average." Some other highlights related to HPSI indicators for the month of November 2020 (access more info on the HPSI as well as the full research report on FannieMae.com). » e net share of Americans who say it is a good time to buy decreased 3 percentage points—e percentage of respondents who say it is a good time to buy a home decreased from 60% to 57%, while the percentage who say it is a bad time to buy remained the same at 35%. » e net share of those who say it is a good time to sell increased 2 percentage points— e percentage of respondents who say it is a good time to sell a home remained the same at 59%, while the percentage who say it's a bad time to sell decreased from 35% to 33%. » e net share of Americans who say home prices will go up increased 8 percentage points month over month—e percentage of respondents who say home prices will go up in the next 12 months increased this month from 40% to 41%, while the percentage who say home prices will go down decreased from 20% to 13%. e share who thinks home prices will stay the same increased from 31% to 35%. As a result, the net share of Americans who say mortgage rates will go down over the next 12 months decreased 14 percentage points month over month. e percentage of respondents who say mortgage rates will go down in the next 12 months decreased from 11% to 8%, while the percentage who expect mortgage rates to go up increased from 32% to 43%. e share who thinks mortgage rates will stay the same decreased from 49% to 40%. e net share of Americans who say they are not concerned about losing their job decreased 6 percentage points month over month. e percentage of respondents who say they are not concerned about losing their job in the next 12 months decreased from 79% to 76%, while the percentage who say they are concerned increased from 21% to 24%. e net share of those who say their household income is significantly higher than it was 12 months ago increased 3 percentage points month-over-month. e percentage of respondents who say their household income is significantly higher than it was 12 months ago increased from 23% to 24%, while the percentage who say their household income is significantly lower decreased from 20% to 18%. e percentage who said their household income is about the same increased from 55% to 57%.