The US housing market is expected to see sluggish growth in 2023. According to Fannie Mae, home sales in the upcoming year are predicted to remain roughly at 2009 levels – with minimal improvement into 2024.
As the economy continues to struggle against the pandemic, experts are divided on if a “soft landing” is possible – a slowly recovering economy in which the housing sector could start to see progress before 2024. Though the financial outlook is optimistic, Fannie Mae predicts that even in the best-case scenarios, home sales are likely to remain at 2009 levels for the upcoming couple years.
Below are the most important elements of the text:
• Fannie Mae predicts home sales in 2023 to be roughly at 2009 levels
• 2024 unlikely to see more than minor improvements
• Economy struggling against the pandemic
• Soft landing – slow recovering economy – is possible though not likely
• Optimistic financial outlook
• Best-case scenario may not see more than 2009 level in home sales
You can read this full article at: https://www.housingwire.com/articles/home-sales-will-be-weak-in-2024-regardless-of-soft-landing-fannie-mae/(subscription required)
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