New commentary from Fannie Mae revealed the ESR Group is warning that while rates are moving rapidly again, they are expected to weigh on consumption and business investments over time. Experts now project a significant slowing trend in economic growth through the end of the year and into 2024.
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Housing Market Activity Slowed by Fed Rate Hikes
HouseCanary's August Market Pulse report revealed depressed market activity has resulted in net new listing volume trailing behind overall contract volume, as total inventory remains down nearly 13% compared to the same time in 2022.
Read More »Report: Housing Affordability to Rebound in 2023
Chief Economist Mark Fleming of First American states that “given the large loss of affordability buyers experienced this year, a possible improvement next year will be a welcome relief for potential buyers.”
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