I ran across this Fannie Mae forecast report(s) this morning. Historically these Fannie Mae forecasts have been very accurate, and this set is very encouraging!
Both the economic and housing reports run through 2024. Looking at the CPI & GDP forecast numbers form the economic report, they are predicting inflation to fall into check early in 2024. As you can see, we are already in a falling pattern and heading to the target of a 2% range as recommended by the Federal Reserve.
Looking at the housing forecast, Fannie Mae predicts that mortgage rates should settle in the 5%’s range in 2024. This is GREAT NEWS for buyers and sellers!
In reviewing these two reports together we can see that it looks promising that '23 will be a recovering year that is already trending in the right direction. But '24 should be the year we get back to a stronger overall economy. In other words, it looks like we are heading towards a soft landing from the unstable 2022 year behind us.
Review the reports for yourself here:
Economic Report - https://www.fanniemae.com/media/46841/display
Housing Report - https://www.fanniemae.com/media/46846/display
I hope you find this information helpful and encouraging. If you have any questions about this or anything else in the real estate process just give me a call. I’m Alan Castleman with Hickman Realty Group, and I’m here to help you!
731.664.1006Posted by Alan Castleman on