Skip to content
Bhadohiinfo

Bhadohiinfo

Only lovely interior

Primary Menu
  • News Home and Design
  • Housing Investment
  • Real Estate Theme
  • Real Estate News
  • House Exterior
  • Home Sale
  • About Us
    • Advertise Here
    • Privacy Policy
    • Contact Us
    • Sitemap
  • Home
  • Good news for home buyers? Fannie Mae chief economist says the U.S. housing market has finally turned a corner. Here’s why.
  • Housing Investment

Good news for home buyers? Fannie Mae chief economist says the U.S. housing market has finally turned a corner. Here’s why.

By Frankie Olkowski 1 year ago

The inventory shortage, high prices and rising interest rates have finally bitten.

Single-family home sales fell sharply by 16.6% in April to a seasonally adjusted annualized rate of 591,000, according to Census Bureau data released Tuesday.

That was the slowest rate of sales since April 2020 during the earliest days of the COVID-19 pandemic, offering respite for buyers that the market is cooling.

What’s more, new home sales in March were revised downward significantly from 763,000 to 709,000, the Census Bureau said.

“The new home sales report released today by the Census Bureau clearly points to a housing market that has turned,” said Doug Duncan, chief economist at Fannie Mae.

Mortgage rates have risen 200 basis points since the end of 2021, putting pressure on existing home sales, mortgage applications, and homebuilder confidence, he said.

“‘A sharper downturn in residential investment is now underway, and we will likely be revising downward our near-term home sales forecast.’”


— Doug Duncan, chief economist at Fannie Mae

Economists polled by The Wall Street Journal had forecast sales to take place at a 750,000 annual rate, although the report can be volatile and subject to revisions.

“However, today’s new home sales report is the sharpest indicator yet, with sales coming in well below both our own and consensus expectations,” Duncan said.

”The sales pace in April was similar in level to the slowdown that occurred the last time the Federal Reserve engaged in a tightening regimen in 2018,” he added.

”A sharper downturn in residential investment is now underway,” the Fannie Mae
FNMA,
+2.04%
economist said, adding that he’ll revise downward his own sales projections.

A separate report released Tuesday by Realtor.com suggested that people are prepared to buy and sell homes at ”more approachable price points.”

George Ratiu, senior economist and manager of economic research at Realtor.com, said the report “offers hope” for seller-buyers.

(Realtor.com is operated by News Corp subsidiary Move Inc., and MarketWatch is a unit of Dow Jones, which is also a subsidiary of News Corp.)

The Dow Jones Industrial Index
DJIA,
+1.76%,
S&P 500
SPX,
+2.47%
and Nasdaq Composite
COMP,
+3.33%
were all clinging to positive territory in early afternoon trading Wednesday as ongoing stagflation fears continued to worry investors.

Tags: Al Home Improvement, D&L Home Improvements, Home Improvement Jill'S Dad, Home Improvement Jill'S Mom, Home Improvement Karate, Home Improvement Karen, Home Improvement Kelly Barnes, Home Improvement Kid Death, Home Improvement Kid Died, Home Improvement Kids, Home Improvement Kit, Home Improvement Kitchen, Home Improvement License, Home Improvement Loan Calculator, Home Improvement Loan Interest Rates, Home Improvement Loan Rates, Home Improvement Loans For Bad Credit, Home Improvement Loans In Texas, Home Improvement Logo, Home Improvement Magazine, Home Improvement Market, Home Improvement Meaning, Home Improvement Memes, Home Improvement Mom, Home Improvement Mortgage, Home Improvement Movie, Home Improvement Mr Wilson, Home Improvement Near Me, J Home Improvement Bakersfield, J Home Improvement Bakersfield Ca 93308, J Home Improvement Bakersfield California, J Home Improvement Inc, J Moon Home Improvements, J&K Home Improvement, J&M Home Improvements, K Home Improvements, K Home Improvements Springfield Pa, K&M Home Improvements, K&S Home Improvements, L Pearce Home Improvements, L&J Home Improvements, L&Q Home Improvements, L&S Home Improvements, M&M Home Improvement, P&K Home Improvements, R&M Home Improvements, T&K Home Improvements, T&K Home Improvements Reviews, T&M Home Improvement

Continue Reading

Previous Best Kitchen Scale for Food & Cooking – Reviews
Next How To Fix A Warped Rug After Getting Wet (Most Effective & Safest)
September 2023
M T W T F S S
 123
45678910
11121314151617
18192021222324
252627282930  
« Aug    

Archives

Recent Posts

  • Luxuriously Minimalist Interior With Chic Limestone Accents
  • James Hardie Fiber Cement Siding vs Vinyl Siding: Which Siding is Best?
  • Neoclassical Interior With Multifunctional Spaces & Incredible Style
  • On the Wake of Coronavirus 2019 Keep Your Home Clean and Germ-Free
  • How to Prepare Your Walls for Vinyl Siding Installation

BL

Tags

A&N Home Improvements Al Home Improvement Double P Home Improvement Home Improvement Contractors Near Me Home Improvement Ideas Home Improvement Loan Calculator Home Improvement Loan Rates Home Improvement Loans Home Improvement Naics Code Home Improvement Near Me Home Improvement Neighbor Home Improvement Neighbor Face Home Improvement Network Home Improvement Nft Home Improvement Noise Home Improvement On Hulu Home Improvement Online Home Improvement On Netflix Home Improvement On Streaming Home Improvement On Tv Home Improvement Ornament Home Improvement Outlet Home Improvement Outlet Lebanon Pa Home Improvement Pam Anderson Home Improvement Pilot Home Improvement Podcast Home Improvement Power Tool Pursuit Home Improvement Products Home Improvement Professionals Home Improvement Programs Home Improvement Projects Home Improvement Quest For Fire Home Improvement Questions Home Improvement Questions And Answers Home Improvement Quiz Home Improvement Quotes Home Improvement Quote Template Home Improvement Shows Home Improvement Stores Home Improvement Streaming Home Improvement Tv Show J & N Home Improvements J&P Home Improvements K & N Home Improvements N&B Home Improvement
Bhadohiinfo.com | Magazine 7 by AF themes.

WhatsApp us