Economists at Fannie Mae have dramatically downgraded their home sales forecasts for this year and next, saying they expect a “modest recession” in the second half of next year in the face of Fed tightening and the war in Ukraine. Home sales are now expected to decline by 7.4% this year and 9.7% in 2023, a dramatic adjustment from March, when Fannie Mae forecast a 4.1% decrease in home sales this year and a 2.7% decrease in 2023 In their latest forecast, Fannie Mae economists said the … [Read more...] about Higher Interest Rates Having an Impact on Sales and Appreciation of Homes
