top of page

Outlook Sees Market Recovery In 2024

The most recent outlook from Fannie Mae's Economic and Strategic Research Group has good news for potential home buyers. Released monthly, the group's outlook covers what they think is ahead for the overall economy and housing market. In December, the group sees change ahead for 2024. In fact, the outlook says the housing market will begin to recover, albeit slowly. Doug Duncan, Fannie Mae's senior vice president and chief economist, says they expect more home sales next year but believe the rebound will be a gradual one. “While we think home sales will start to rise over the new year, the combination of modest increases in home prices and still-elevated interest rates suggest a slow pace of recovery from previously recessionary levels of housing activity,” Duncan said. Recently declining rates have helped boost mortgage application volume already and, with rates expected to improve further next year, there is good reason to believe demand from buyers will grow.

Recent Posts

See All

Typical Property Spends 36 Days On The Market

There are few things more frustrating as a home buyer than losing a home to another buyer. Whether it's due to a faster offer or a better one, losing your chance at a home you had your eye on can be d

Rising Foot Traffic A Good Sign For Spring

Foot traffic is a great way to measure how active home buyers are in the market. You can tell a lot about where buyers are looking to live, and the homes they're most interested in, by looking at how

bottom of page