Once again the "Good Time to Buy" component of Fannie Mae's Home Purchase Sentiment Index (HPSI) is on the decline. Net positive answers to that question fell by 7 percentage points in October, helping to drag the entire index lower for the second straight month. The HPSI decreased 2.7 points to 88.8 but remains up 3.1 point compared to October 2018. The Index set an all-time high of 93.8 in September. The HPSI is constructed from responses to six questions included in Fannie Mae's monthly National Housing Survey (NHS). Five out of six components declined in October. The Good Time to Buy question elicited net positive responses of 21 percent. Its companion question, whether or not it is a good time to sell, fell 3 percentage points to 41 percent.