Fannie Mae’s ESR Group published its August 2023 commentary on recent economic data and its likely impact on the housing market. Data points to an eventual downturn, which they now expect in the first half of 2024, though a soft landing is possible.
BAM looks at what could happen to the housing market with 8% mortgage rates, how to answer related questions from buyers, and the best way to prepare your real estate business and maximize transactions in 2023.
The Fannie Mae Home Purchase Sentiment Index® saw a slight increase in July as consumer sentiment on job security and household income improved or remained high. But 82% of respondents believe it’s a bad time to buy a home—up from 78% in June.
The Fannie Mae Home Price Index (FNM-HPI) reading for Q2 2023 shows a 3.0% annual increase in home prices—down from the second quarter’s 4.9% revised annual growth rate—and, on a quarterly basis, a 1.9% seasonally adjusted increase from Q1 2023.
Fannie Mae has released its Home Purchase Sentiment Index report for June 2023, showing a monthly increase in consumer confidence of only 0.4 points to 66.0, as buyers still contend with both limited housing supply and affordability challenges.
Mixed data complicates macroeconomic forecasts as the June 2023 Commentary by Fannie Mae calls attention to low inventory, continued strength in the labor market, and the likelihood of recession as the Fed continues its restrictive monetary policy.
A recent Fannie Mae blog highlights the resilience of consumer aspirations to homeownership in spite of elevated mortgage rates, high home prices, and limited inventory. For 87% of consumers, owning a home is an important part of living the good life.
This week’s Hot Sheet recap includes reasons why real estate agents need to stay informed on both macro and micro trends, along with every segment Byron Lazine covered the week of May 22nd-May 26th.
Housing market analysts, including those from Fannie Mae and Zillow, have conflicting forecasts about home prices. Here’s how you can talk to consumers about where home prices are expected to go.
Fannie Mae’s Economic and Strategic Research (ESR) Group released its revised forecast on May 19th. The group expects the U.S. to enter a mild recession later this year, along with a decrease in home prices.
The Fannie Mae Home Purchase Sentiment Index® (HPSI) continued its recent upward trend in April, climbing 5.5 points to 66.8—the highest since May 2022.
On Wednesday, the FHFA announced it would rescind its DTI LLPA fee for conventional borrowers. The decision comes after the FHFA announced a delayed implementation to better understand the concerns of industry stakeholders.
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