Recent Rate Run-Up Expected to Keep Existing Home Sales Near Historic Lows Through 2025
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Fannie Mae's Economic and Strategic Research Group has revised its forecast for existing home sales, now expecting only a 4% rise in 2025 due to recent increases in mortgage rates. This follows a 2024 pace that is near a 30-year low.
November 21, 2024 | 1:45 pm
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Fannie Mae's revised forecast for existing home sales, now expecting only a 4% rise in 2025 due to recent increases in mortgage rates, could impact its financial performance and stock price.
The revision of the home sales forecast by Fannie Mae's ESR Group indicates a less optimistic outlook for the housing market, which could negatively impact Fannie Mae's financial performance and stock price. The significant upward movement in mortgage rates is a key factor in this revision.
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