Fannie Mae’s Economic & Strategic Research Group now forecasts recessionary conditions taking a hold of the market during Q1 2023, even after forecasting better fourth-quarter numbers due to strong GDP and personal consumption figures.
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Housing Market Improvement Predicted in 2024
“Home sales are projected to hit a trough in Q2 2023, at a selling pace of 4.27 million annualized units, as the full effect of higher mortgage rates and the projected recession take hold,” according to a new Fannie Mae forecast.
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