According to Fannie Mae’s latest Home Price Index (FNM-HPI) reading, single-family home prices increased by 6.9% from Q2 2023 to Q2 2024, with the pace of growth slowing due to rising mortgage rates and increased home availability.
On April 15, 2024, Fannie Mae and Freddie Mac issued notices stating that buyer agent commissions will not be included in the cap on interested party contributions (IPCs), per current policies.
Research from Fannie Mae and Freddie Mac shows extreme weather has impacted the cost of homeowners’ insurance for the majority of U.S. homeowners—even more for low-income borrowers and those living in disaster-prone areas.
Current IPC limits affect home buyers’ ability to finance agent commissions into mortgage loans. Learn about advocacy efforts by the American Real Estate Association (AREA) to address this issue.
According to the Q1 2024 Fannie Mae Home Price Expectations Survey (HPES), a panel of 100+ housing experts forecasts home price growth of 3.8% in 2024 and 3.4% in 2025, as well as a median 6% 30-year fixed mortgage rate by the end of 2024.
A new Fannie Mae report offers a more bullish revision on their earlier forecast, with mortgage rates dipping below 6% in the fourth quarter of 2024.
Here are the top housing market predictions for 2024, with highlights from eight reliable sources, led by Fannie Mae’s Economic and Strategic Research (ESR) Group and wrapping up with eight predictions from Ryan Serhant.
Fannie Mae has revised their outlook for the U.S. economy and housing market. Their December report predicts an economic deceleration in 2024, along with a slow recovery for home sales and mortgage originations.
Goldman Sachs released updated housing and economic forecasts for 2024 through 2027, revealing bearish predictions on home sale transactions over the next four years, along with bullish predictions on home prices.
The Federal Housing Finance Agency (FHFA) announced new conforming loan limits for 2024.
Fannie Mae, CoreLogic, and Zillow are forecasting year-over-year increases in home values in the coming year, while Moody’s Analytics and Morgan Stanley are predicting single-digit national home price declines.
A Fannie Mae survey of renters and homeowners on work and housing preferences shows the share of non-retired persons working fully remotely or on a hybrid work schedule has held steady since the first quarter of 2021.
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