📉Fannie Mae predicts a 28-year low in home sales in 2023, attributed to affordability challenges and lack of inventory.
🏘️The same problems that kept home sales low in 2023 are expected to persist in 2024.
📈Fannie Mae forecasts a slow recovery in home sales starting in 2025.
💰Interest rates are expected to be lower than previously predicted, potentially contributing to a rebound in sales.
📈Home prices are projected to peak in Q4 2022 and Q1 2024, with a 6.7% increase compared to Q1 2023.
Why does Fannie Mae predict a decline in home sales?
—The decline in home sales is attributed to affordability challenges and a lack of available houses for sale.
Will home sales improve in 2024?
—Fannie Mae predicts that the same challenges faced in 2023, such as affordability and lack of inventory, will likely persist in 2024, resulting in only a slight improvement in home sales.
When are home prices expected to peak?
—Fannie Mae forecasts that home prices will peak in Q4 of 2022 and Q1 of 2024.
Will interest rates affect home sales?
—Lower interest rates can potentially contribute to a rebound in home sales, as they may make homes more affordable for buyers.
Is there a possibility of a recovery in home sales?
—Fannie Mae predicts a slow recovery in home sales starting in 2025, as market conditions may improve.
00:00Fannie Mae predicts a significant decline in home sales, reaching a 28-year low.
03:12The same challenges that kept home sales low in 2023 are expected to persist in 2024.
06:44Fannie Mae forecasts a slow recovery in home sales starting in 2025.
09:02Interest rates are expected to be lower than previously predicted, potentially contributing to a rebound in sales.
12:01Home prices are projected to peak in Q4 of 2022 and Q1 of 2024, with a 6.7% increase compared to Q1 2023.
