Fannie Mae's NEW Forecast: Home Sales to Fall to a 29YR LOW

Fannie Mae is now forecasting that home sales will fall to a 29-year LOW in 2024. This is astonishing given that housing inventory is up significantly in many parts of the United States and average 30yr fixed mortgage rates have decreased by about 1.8 percentage points since October 2023 (i.e. from around 8% to the low 6% range).

In today’s video, I share all the details of their real estate market forecast for housing starts, home sales, home prices and mortgage rates in 2024 and 2025 (link below for the reports).

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Compilation of Housing Market Forecast videos:
https://youtube.com/playlist?list=PLiQQpOejscIcBF1Jw2zG6Uvg7qDav_oGi

Source of the reports I shared in today’s video:
https://www.fanniemae.com/research-and-insights/forecast

https://www.fanniemae.com/newsroom/fannie-mae-news/existing-home-sales-pace-hit-nearly-30-year-low-despite-recently-lower-rates

https://www.fanniemae.com/research-and-insights/forecast/economic-developments-september-2024

https://www.mortgagenewsdaily.com/data/mortgage-applications

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Jason Walter, CPA (inactive CPA lic 103885)
Sacramento real estate agent and native (DRE 01923240)
Mortgage Loan Officer, NMLS 2566691
Revest Homes (DRE 02174879, NMLS 2362319)
jason@meetjasonwalter.com

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Disclaimer:
Jason Walter is not a practicing tax accountant or a licensed attorney or financial adviser. Therefore, the information in these videos shall not be relied upon as tax, legal, or financial advice from a qualified perspective. If you need such advice, please contact a qualified tax accountant, attorney, or financial adviser. We have taken reasonable steps to check that the information in this video is accurate but we cannot represent that it is free from errors. You expressly agree not to rely upon any information contained in this video - it is for entertainment purposes only.

This video description may contain affiliate links that allow you to easily find the items mentioned in my videos as well as support the channel at no cost to you. Thank you for your support! Jason Walter is a licensed real estate agent and mortgage loan originator with Revest Homes in California (DRE 02174879, NMLS 2362319).

For informational purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval. Other restrictions may apply. Equal housing lender.

#housingforecast #FannieMae #housingmarket