Confidence in Housing U-Turns

Confidence in housing u-turned in February in the Fannie Mae Home Purchase Sentiment Index® (HPSI), with the HPSI overall posting 85.8, 3.7 percentage points lower than the month prior and 2.5 percentage points lower than the year prior.
The backtrack was caused by converging influences, says Doug Duncan, chief economist and senior vice president at Fannie Mae.
“Volatility in consumer housing sentiment continued into February, with the new tax law beginning to impact respondents’