“The US housing market is headed for the largest sales slowdown since 2011, Fannie Mae says”
January 2, 2024
“…The government-sponsored mortgage finance company forecasted total home sales to slump to just 4.8 million this year, marking the slowest sales environment since 2011. That figure will only improve slightly in 2024, with total home sales expected to hit 4.9 million, Fannie Mae economists said…
An economic downturn spells trouble for the overall housing market. Though central bankers will likely pull back interest rates in event of a downturn — which could influence mortgage rates to fall — a weakening labor market and a crunch in credit conditions will likely slam housing demand, Fannie Mae said in a prior note…”
https://finance.yahoo.com/news/us-housing-market-headed-largest-030039869.html