Home purchase sentiment continued to rebound from an 18-month low in May, according to Fannie Mae's Home Purchase Sentiment Index.
Fannie Mae reported Tuesday that the index rose 1.6 points from the previous month to 85.3, an all-time survey high. The overall index's increase was led by a jump in the share of consumers reporting their income was significantly higher than a year ago to 18%, also an all-time high.
The share of Americans who said that home prices will increase rose five percentage points to 42%.
The net share who responded that now is a good time to buy a house fell one percentage point to 29%, reaching an all-time survey low for the second straight month. Those who said now is a good time to sell and that they are not concerned with losing their job also dropped.
