Interest in understanding the dynamics of the housing market and the sector’s relationship to the broader economy has grown since the 2008 financial crisis. In this brief overview, Professor James A. Wilcox introduces a Home Purchase Sentiment Index that can provide enhanced forecasts of the US housing market’s direction. getAbstract recommends this informative report on a new economic tool to policy experts, financial executives and anyone watching the US residential real estate market.
In this summary, you will learn
- What the Home Purchase Sentiment Index (HPSI) measures;
- How it performs, compared to other metrics, in forecasting the housing market; and
- Why more experience with the HPSI will hone its predictive ability.
About the Author
James A. Wilcox is a professor at the University of California, Berkeley.