Did Someone Rewind to ‘95?
Posted by Ralph Ragette Jr on
Did Someone Rewind to ‘95?
The September Fannie Mae Economic Developments Report forecasts that existing home sales may reach a 30-year low this year, mainly due to affordability constraints and high mortgage rates. Despite a 20% increase in homes available for sale nationally, demand remains low, particularly in Sun Belt regions. Additional findings:
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Home Sales: Existing home sales are expected to reach their lowest level since 1995.
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Supply-Demand Imbalance: Although inventory has increased nationally, demand has not kept pace, resulting in fewer sales.
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Economic Slowdown: Slower GDP growth and consumer spending contribute to weaker housing market conditions.
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Future Outlook: Sales are projected to…
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