Fannie Mae’s Home Purchase Sentiment Index (HPSI) Plummets to New All-Time Low – Consumer Confidence in Housing Drop Continues, Conv vs. Manufactured Homes Trends; plus MHVille REITs, Stocks Update


Fannie Mae’s Home Purchase Sentiment Index (HPSI) has fallen to a new all-time low, per Fannie’s media release to MHProNews. “Consumer Confidence in Housing Drop Continues,” said Fannie Mae. New and existing conventional housing sales are suffering under the pressures of rising interest rates nationally, plus still rising housing prices in some areas of the U.S. These factors may prove somewhat beneficial for manufactured housing, at least for the short term. That notion is reflected in the still growing manufactured housing production and shipment data reflected in the most recent report shown below.

Manufactured Home Production Growth Continues in September 2022, per Manufactured Housing Association for Regulatory Reform-Added Facts, Analysis, plus MHVille REITs, MH Connected Stocks Update

With that backdrop here is the latest from Fannie Mae’ monthly consumer sentiment survey on homebuying. This will be followed by additional information with more MHProNews analysis and commentary. The Daily Business News on MHProNews manufactured home communities Real Estate Investment Trusts (REITs) with manufactured housing connected equities market report will be our customary final segment for this business-daily post.

Consumer Confidence in Housing Hits New All-Time Low

Only 16% of Consumers Report Now is a Good Time to Buy a Home

WASHINGTON, DC – November 8, 2022 – The Fannie Mae (FNMA/OTCQB) Home Purchase Sentiment Index® (HPSI) decreased 4.1 points in October to 56.7, its eighth consecutive monthly decline and lowest reading since the inception of the index in 2011. Five of the six index components decreased month over month, including those associated with home buying and selling conditions, as persistently high home prices and unfavorable mortgage rates continue to fuel consumers’ housing affordability concerns. Only 16% of respondents indicated that now is a good time to buy a home – a new survey low – while the percentage who believe now is a good time to sell a home decreased sharply from 59% to 51% in October. Year over year, the full index is down 18.8 points.

“The HPSI reached an all-time survey low this month, in line with expectations that the housing market will continue to cool in the months ahead,” said Doug Duncan, Fannie Mae Senior Vice President and Chief Economist. “Consumers are increasingly pessimistic about both homebuying and home-selling conditions. Amid persistently high home prices and unfavorable mortgage rates, the ‘bad time to buy’ component increased to a new survey high this month, while the ‘good time to sell’ component continued its downward trend. Consumers also remain concerned about the movement of home prices – expectations that prices will decrease reached a new survey high, particularly among homeowners – offering further support to our forecast of home price declines in 2023. As continued affordability constraints reduce homebuyer demand, and homeowners become reluctant to sell at potentially reduced prices, we expect home sales to slow even further in the coming months, consistent with our forecast.”

Home Purchase Sentiment Index – Component Highlights

Fannie Mae’s Home Purchase Sentiment Index (HPSI) decreased in October by 4.1 points to 56.7. The HPSI is down 18.8 points compared to the same time last year. Read the full research report for additional information.

  • Good/Bad Time to Buy: The percentage of respondents who say it is a good time to buy a home decreased from 19% to 16%, while the percentage who say it is a bad time to buy increased from 75% to 80%. As a result, the net share of those who say it is a good time to buy decreased 8 percentage points month over month.
  • Good/Bad Time to Sell: The percentage of respondents who say it is a good time to sell a home decreased from 59% to 51%, while the percentage who say it’s a bad time to sell increased from 33% to 42%. As a result, the net share of those who say it is a good time to sell decreased 17 percentage points month over month.
  • Home Price Expectations: The percentage of respondents who say home prices will go up in the next 12 months decreased from 32% to 30%, while the percentage who say home prices will go down increased from 35% to 37%. The share who think home prices will stay the same decreased from 28% to 26%. As a result, the net share of those who say home prices will go up decreased 4 percentage points month over month.
  • Mortgage Rate Expectations: The percentage of respondents who say mortgage rates will go down in the next 12 months decreased from 9% to 6%, while the percentage who expect mortgage rates to go up increased from 64% to 65%. The share who think mortgage rates will stay the same increased from 20% to 24%. As a result, the net share of those who say mortgage rates will go down over the next 12 months decreased 4 percentage points month over month.
  • Job Loss Concern: The percentage of respondents who say they are not concerned about losing their job in the next 12 months increased from 78% to 85%, while the percentage who say they are concerned decreased from 21% to 15%. As a result, the net share of those who say they are not concerned about losing their job increased 13 percentage points month over month.
  • Household Income: The percentage of respondents who say their household income is significantly higher than it was 12 months ago decreased from 26% to 25%, while the percentage who say their household income is significantly lower increased from 11% to 15%. The percentage who say their household income is about the same decreased from 61% to 60%. As a result, the net share of those who say their household income is significantly higher than it was 12 months ago decreased 5 percentage points month over month.

To learn more about Fannie Mae’s Home Purchase Sentiment Index and National Housing Survey consumer attitude measures, please click here.

About the ESR Group

Fannie Mae’s Economic and Strategic Research Group, led by Chief Economist Doug Duncan, studies current data, analyzes historical and emerging trends, and conducts surveys of consumer and mortgage lender groups to provide forecasts and analyses on the economy, housing, and mortgage markets. The ESR Group was recently awarded the prestigious 2022 Lawrence R. Klein Award for Blue Chip Forecast Accuracy based on the accuracy of its macroeconomic forecasts published over the 4-year period from 2018 to 2021. ##


Additional Information with More MHProNews Analysis and Commentary

In several respects this Fannie Mae HPSI report by their ESR group is no surprise. The reasons are provided in the two recent reports linked below.


CNN, USA Today, and the National Association of Realtors (NAR) have each recently published insights that reflect growing frustration with the system as it relates to housing. First time homebuying has fallen to the lowest level on record (see above). Affordable housing is in demand, particularly for first time buyers and downsizers. Manufactured housing is benefiting from these trends, but arguably not to the level that the manufactured home industry should be achieving.





The trends are clear. Conventional housing is in a slide. Inflation and interest rate hikes are among the reasons why.





Wells Fargo Builders Index, Census Data=OVER 50 Percent Drop Since October 2021, Regional National Insights, Exclusive Manufactured Housing Ops+Obs; plus MHVille REITs, Stocks Update


Daily Business News on MHProNews Markets Segment

The modifications of our prior Daily Business News on MHProNews recap of the recap of yesterday evening’s market report are provided below. It still includes our signature left (CNN Business) and right (Newsmax) ‘market moving’ headlines. The macro market moves graphics will provide context and comparisons for those invested in or tracking manufactured housing connected equities.

In minutes a day readers can get a good sense of significant or major events while keeping up with the trends that are impacting manufactured housing connected investing.

Reminder: several of the graphics on MHProNews can be opened into a larger size. For instance: click the image and follow the prompts in your browser or device to OPEN In a New Window. Then, in several browsers/devices you can click the image and increase the size. Use the ‘x out’ (close window) escape or back key to return.


Headlines from left-of-center CNN Business – from the evening of 11.8.2022

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    Note: depending on your browser or device, many images in this report and others on MHProNews can be clicked to expand. Click the image and follow the prompts. For example, in some browsers/devices you click the image and select ‘open in a new window.’ After clicking that selection, you click the image in the open window to expand the image to a larger size. To return to this page, X out (close) the window, or depending on the device, you may need to use your back key, escape key (Esc), or follow the prompts.

    Wall Street is bracing for election results — but Thursday’s inflation report may be a bigger deal

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  • Companies are back to hosting lavish parties and expensive dinners
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  • Can the Ukraine war accelerate the shift to renewables?
  • NEW YORK, NEW YORK – OCTOBER 27: Traders work on the floor of the New York Stock Exchange (NYSE) on October 27, 2022 in New York City. Stocks continued their upward gains Thursday with the Dow rising nearly 400 points following a new GDP report that beat expectations.
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  • Voters mark their ballot in a privacy booth at West Side High School during early voting in New York City.
  • What the midterms could mean for taxes, Social Security and more
  • Tom Cruise plays Capt. Pete “Maverick” Mitchell in Top Gun: Maverick from Paramount Pictures, Skydance and Jerry Bruckheimer Films.
  • RISK TAKERS No one predicted ‘Top Gun: Maverick’ would become one of the highest grossing films in history
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  • Twitter could be a new wild card for the midterms
  • How midterms could affect Wall Street
  • YahooFinanceLogo9ClosingStocksEquitiesBroaderMoneyMarketInvestmentIndicatorsGraphic11.8.2022MHProNews
    “In the business world, the rear-view mirror is always clearer than the windshield.” – Warren Buffett. That begs a key question. Why don’t more people LOOK at the rearview mirror so they can learn more about the patterns that influence what’s ahead? Note: depending on your browser or device, many images in this report can be clicked to expand. or example, in some browsers/devices you click the image and select ‘open in a new window.’ After clicking that selection, you click the image in the open window to expand the image to a larger size. To return to this page, use your back key, escape or follow the prompts.

    How QAnon and election lies spread in Spanish

  • Analysis: Biden issued a warning about election deniers
  • Musk hints that Trump will not be back on Twitter before the midterms
  • NEW YORK, NEW YORK – OCTOBER 31: Kyrie Irving #11 of the Brooklyn Nets looks on during a break in the action during the first quarter of the game against the Indiana Pacers at Barclays Center on October 31, 2022 in New York City. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement.
  • Nike suspends relationship with Kyrie Irving
  • Aaron Donald and Jaylen Brown leave Kanye West’s Donda Sports agency
  • NFL adds Black Friday game exclusively for Amazon
  • Red Bull owner Dietrich Mateschitz dies, company says
  • Major League Baseball players union joins the AFL-CIO

Headlines from right-of-center Newsmax 11.8.2022

  • Florida to Monitor DOJ Election Observers
  • Voters wait in line to cast their ballots at Wa-Ke Hatchee Recreation Center in Fort Myers, Florida, on Tuesday. (AP Photo/Rebecca Blackwell)
  • The Department of Justice and the state of Florida both are sending observers to polling places Tuesday in three Sunshine State counties, Florida Politics reported. [Full Story]
  • The 2022 Elections
  • In Russia, Some Hope US Midterms Means Less Ukraine Aid, More Chaos
  • Voters Weigh New Tax on Rich to Boost EVs
  • Yahoo-ManufacturedHomeCommunitiesMobileHomeParksFactoriesProductionSuppliersFinanceStocksEquitiesClosingDataYahooFinanceLog11.8.2022
    In instances such as Apollo, Berkshire Hathaway, Blackstone or others, manufactured housing may only be part of their corporate interests. Note: depending on your browser or device, many images in this report and others on MHProNews can be clicked to expand. Click the image and follow the prompts. For example, in some browsers/devices you click the image and select ‘open in a new window.’ After clicking that selection you click the image in the open window to expand the image to a larger size. To return to this page, use your back key, escape or follow the prompts.

    Trump Votes for DeSantis, Drops Hints About 2024 Run | video

  • Bernie Kerik to Newsmax: FBI’s Poll Watchers a Concern | video
  • Final Pre-election Cook Report: GOP ‘Easily’ Taking House
  • Official: ‘No Credible’ Midterm Elections Cyberthreats Detected
  • Ballot Scanners Reportedly Defective in N.J. County
  • Twitter Girds for Surge in US Midterm Election Misinformation
  • RNC Releases Video Encouraging American to ‘Go Vote’ | video
  • GOP Could Snag 3 or 4 New House Seats From Pa.
  • More The 2022 Elections
  • Newsmax TV
  • Herrell: New Mexicans Focused on ‘Border Crisis’ | video
  • Mastriano: I’ll Defy Biden, Open More Coal Plants | video
  • RNC’s Danielle Alvarez: Nazi Germany Talk ‘Absolutely Ridiculous’ | video
  • Bernie Kerik: FBI’s Poll Watchers a Concern | video
  • Davidson to Newsmax: GOP Voters Sending Message | video
  • Pollster McLaughlin to Newsmax: Left, Media Cover Selves for Biased Polls | video
  • GOP’s Karamo: Parents Being ‘Demonized’ by Dem Leaders
  • Newsfront
  • Cornell Suspends Frat Parties After Alleged Assault, Druggings
  • Cornell University suspended fraternity parties and social events after a student was allegedly sexually assaulted over the weekend and at least four others were recently drugged at off-campus locations, Business Insider reported…. [Full Story]
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  • President Joe Biden said in a national radio interview that he still [Full Story]
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  • Ukraine’s president has hinted at the possibility of peace talks with [Full Story]
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  • Iran Admits Supplying Russia With Drones
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  • UPS Mishap Causing 155 Texas Students to Retake College Test
  • Some 315 students from El Paso High School in Texas, whose completed [Full Story]
  • How Kari Lake Surged in Arizona
  • Kari Lake’s unabashed, controversial views about the “stolen” 2020 [Full Story] | Platinum Article
  • CDC Warns of Serious Infections From Dentists’ Water Lines
  • The U.S. Centers for Disease Control and Prevention is warning that a [Full Story]
  • Abortion on the Ballot in 5 States
  • Abortion may not be anywhere close to the top issue concerning most [Full Story] | Platinum Article
  • No New Trial for Theranos Founder Elizabeth Holmes
  • Theranos founder Elizabeth Holmes’ request for a new trial was denied [Full Story]
  • Voters Weigh New Tax on Rich to Boost EVs
  • Should California’s richest residents pay higher taxes to help put [Full Story]
  • Stocks Rise on Wall Street Ahead of Election, Inflation Data
  • Stocks rose in midday trading on Wall Street Tuesday as Americans [Full Story]
  • Oil Prices Dip on China Demand Worries, Midterms
  • Oil prices dipped on Tuesday on growing worries about fuel demand as [Full Story]
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  • There’s good news for aging adults: Prevalence of dementia declined [Full Story]
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  • NBA legend Kareem Abdul-Jabbar says Brooklyn Nets star Kyrie Irving [Full Story]
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  • NOTE 1: The 3rd chart above includes the Canadian stock, ECN, which purchased Triad Financial Services, a manufactured home industry lender
  • NOTE 2: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).
  • NOTE 3: Deer Valley was largely taken private, say company insiders in a message to MHProNews on 12.15.2020, but there are still some outstanding shares of the stock from the days when it was a publicly traded firm.  Thus, there is still periodic activity on DVLY.
  • Note 4: some recent or related reports to the equities named above follow.

‘No Assurance Inflation Will Not Affect Our Future Profitability Financial Position’=Cavco Industries 10-Q, Solitaire Deal, More CVCO Data; Supreme Court Ruled-SEC Regs on False-Omitted Remarks

Cavco Industries Announces Planned Buyout of Manufactured Home Builder and Manufactured Housing Retailer Solitaire Homes, Official Statement and Information Beyond the New Release

Triad Financial Services Q2-2022 FINANCIAL RESULTS, per ECN Capital – Several Bright Spots in Manufactured Home Market Highlighted, Including Communities, Retail, Land-Home, Floor; MHStocks Update

‘Blackrock Weaponizing ESG’– State AGs Probe MHCommunities Owner, Private Equity Giant Blackrock on Possible Antitrust, Securities, Fiduciary Violations, See AGs’ Document; plus MHStocks Update

Truist, Other Investors Increase Multi-Million Dollar Stakes in Legacy Housing Corporation (LEGH), Corp Update by CEO Duncan Bates, with Added Facts, Analysis


Manufactured Home Communities (a.k.a. ‘Mobile Home Parks’ – SIC) – Exploring UMH Properties; Fellow Manufactured Housing Institute Member Yes! Communities Suits and Settlements; plus MH Markets Updates


2022 Berkshire Hathaway is the parent company to Clayton Homes, 21st Mortgage, Vanderbilt Mortgage and other factory-built housing industry suppliers.
· LCI Industries, Patrick, UFPI, and LP each are suppliers to the manufactured housing industry, among others.
· AMG, CG, and TAVFX have investments in manufactured housing related businesses. For insights from third-parties and clients about our publisher, click here.

Disclosure. MHProNews holds no positions in the stocks in this report.

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That’s a wrap on this installment of “News Through the Lens of Manufactured Homes and Factory-Built Housing” © where “We Provide, You Decide.” © (Affordable housing, manufactured homes, stock, investing, data, metrics, reports, fact-checks, analysis, and commentary. Third-party images or content are provided under fair use guidelines for media.) (See Related Reports, further below. Text/image boxes often are hot-linked to other reports that can be access by clicking on them.)

All on Capitol Hill were welcoming and interested in manufactured housing related issues. But Congressman Al Green’s office was tremendous in their hospitality. Our son’s hand is on a package that included a copy of the Constitution of the United States and other goodies. Tamas has grown considerably since this photo was taken. 

By L.A. “Tony” Kovach – for MHProNews.
Tony earned a journalism scholarship along with numerous awards in history. There have been several awards and honors and also recognition in manufactured housing. For example, he earned the prestigious Lottinville Award in history from the University of Oklahoma, where he studied history and business management. He’s a managing member and co-founder of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and This article reflects the LLC’s and/or the writer’s position and may or may not reflect the views of sponsors or supporters.








Factual and Viewpoint Insights from August 2022 in MHVille Manufactured Housing Pros, Public Officials, Investors, and Curious People Seeking Affordable Manufactured Home Knowledge and Trends



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