Surveys & Indices
Fannie Mae strives to serve as an industry benchmark for insights into the attitudes, perceptions, and behaviors shaping the current and future state of the housing market. We apply the highest standards of market research and analysis, using surveys and other methods to listen to consumers, lenders, and other industry participants.
Latest Results
Fannie Mae today published the results of its April 2025 National Housing Survey® (NHS), which includes the Home Purchase Sentiment Index® (HPSI), a measure of consumer sentiment toward housing. Month over month, the HPSI increased 1.1 points to 69.2. Year over year, the HPSI is down 2.7 points.
Single-family home prices increased 5.2 percent from Q1 2024 to Q1 2025, largely unchanged from the previous quarter's year-over-year growth pace of 5.3 percent, according to Fannie Mae's latest Home Price Index (FNM-HPI) reading.
Following national home price growth of 5.8% in 2024, a panel of more than 100 housing experts forecasts home price growth to average 3.4% in 2025 and 3.3% in 2026, according to the Q1 2025 Fannie Mae Home Price Expectations Survey (HPES).
Mortgage lenders cited "talent management and leadership" and "cost-cutting" as their two most important business priorities of 2024, according to our latest Mortgage Lender Sentiment Survey® (MLSS).
Fannie Mae announced the launch of its Refinance Application-Level Index (RALI), a weekly series designed to provide the market timely and comprehensive tracking of refinance activity and historical trends.
Latest Special Topics
About Our Surveys and Special Topics
Our monthly National Housing Survey® is a nationally representative telephone survey, polling 1,000 consumers a month about owning and renting a home, home and rental price changes, the economy, household finances, and overall consumer confidence. Respondents are asked more than 100 questions, six of which are distilled into a single indicator – the Home Purchase Sentiment Index™ -- designed to provide signals on future housing outcomes.
Our Mortgage Lender Sentiment Survey® complements the consumer-facing National Housing Survey with insights from industry professionals. This quarterly online survey polls senior executives of Fannie Mae’s lending customers to assess their current activities and market expectations. With these findings, other mortgage and housing professionals can better understand industry trends and assess their own business practices.
Using data collected through our National Housing Survey®, Mortgage Lender Sentiment Survey®, and customized research, we conduct in-depth analyses of special topics that explore specific trends, challenges, and opportunities facing consumers and mortgage lenders in today’s housing market. Our customized research draws from a wide variety of market research methods, including surveys, focus groups, in-depth interviews, and ethnographic research.
