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US Housing Sentiment Sinks to Lowest in More Than a Decade

  • Fannie Mae’s Home Purchase Sentiment Index dropped this month
  • Affordability crisis raises concerns about buying conditions
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US Housing Market Cools Off

Consumers have become the most pessimistic about housing since 2011, when home prices bottomed in the wake of the global financial crisis, data from Federal National Mortgage Association shows.

Fannie Mae’s Home Purchase Sentiment Index dropped to the lowest level in over a decade, as consumers expressed pessimism about home buying prospects. The index, which reflects consumers’ views on the housing market, has fallen from roughly 76 to 63 year-over-year, according to a release Monday.