Higher mortgage rates are now “housing market’s primary constraint,” economists at Fannie Mae said in a new forecast predicting home sales will fall 13.5 percent this year. Continue reading
Pending home sales dipped for the fifth-straight month in March, with the Pending Home Sales Index dropping 1.2 percent from February to 103.7, according to the National Association of Realtors. Continue reading
The median existing-home sales price, meanwhile, soared 13.9 percent year over year in November as inventory plunged 13.3 percent, according to data released Wednesday by the National Association of Realtors. Continue reading
Inventory across all housing types fell 0.8 percent from the month previous and 12 percent year over year to 1.25 million units. Nonetheless, home sales are expected to exceed 6 million by the end of the year. Continue reading
For the first time, Fannie Mae is forecasting all the way out to 2023, when it expects the economy to enter “mature state of the business cycle,” with the risk of another recession moving into focus. Continue reading
Sales of newly built single-family homes hit a seasonally adjusted annual rate of 740,000 in August 2021, up 1.5 percent from the revised July rate, according to the U.S. Census Bureau. Continue reading
Projected growth in new home sales wouldn’t offset expected drop in existing home sales, according to Fannie Mae’s latest monthly forecast. Continue reading
Total existing-home sales in July 2021 rose 2 percent on a seasonally adjusted annual basis from June to a rate of 5.99 million, according to the National Association of Realtors. Continue reading
Economists at Fannie Mae are again sounding warnings that rising rents and record home price appreciation could contribute to long-lasting inflation that leads to earlier, more aggressive tightening by the Federal Reserve. Continue reading
As listing shortages and supply constraints on homebuilders drive up prices, risk of inflation grows, economists with Fannie Mae said. Continue reading