Fannie Mae Housing Market Forecast for 2023
Fannie Mae is predicting a modest recession starting in the second half of 2023. If you want to learn why they are expecting a recession please let me know and I can send you a copy of the April news release. Despite the recession, they are expecting the housing market to remain resilient. In this video we cover their April economic and housing market forecasts. They expect home prices (according to the Fannie Mae Home Price Index) to drop slightly in 2023 and 2024. Overall, total sales are expected to be down about 14% in 2023 compared to 2022. They are also expecting the 30 year fixed rate mortgage rate to continue to decline throughout 2023 and 2024.
Below are a few interesting charts related to housing market values:
Stocks vs. Home Values: https://www.longtermtrends.net/stocks-to-real-estate-ratio/
Home Values vs. Median Income: https://www.longtermtrends.net/home-price-median-annual-income-ratio/
Home Values vs. Inflation https://www.longtermtrends.net/home-price-vs-inflation/
Get More Real Estate News: https://stellarquest.com/category/news/
StellarQuest Real Estate – Lic #02077900
www.StellarQuest.com Video
By: Tim Hamilton
Broker Associate
Lic# 01959966
(714) 486-4086
timsellsca@gmail.com