Existing Home Sales on Pace to Hit Nearly 30-Year Low, Despite Recently Lower Rates
September 18, 2024
September 18, 2024
WASHINGTON, Sept. 18 -- Fannie Mae issued the following news release:
Despite a significant decline in mortgage rates and improved supply in some parts of the country, existing home sales are not expected to pick up meaningfully through the remainder of 2024, with the annual pace now forecast to be the slowest since 1995, according to the September 2024 commentary from the Fannie Mae (FNMA/OTCQB) Economic and Strategic Research (ESR) Group. Recent data, including softness in pending . . .
Despite a significant decline in mortgage rates and improved supply in some parts of the country, existing home sales are not expected to pick up meaningfully through the remainder of 2024, with the annual pace now forecast to be the slowest since 1995, according to the September 2024 commentary from the Fannie Mae (FNMA/OTCQB) Economic and Strategic Research (ESR) Group. Recent data, including softness in pending . . .