Podcast by BiggerPockets
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Home prices will rise, home sales will jump, and mortgage rates will fall to a familiar range, according to Fannie Mae’s Doug Duncan. In their newest consumer sentiment survey, Fannie Mae points to a “tale of two housing markets” where both buyers and sellers are stuck. Rates aren’t low enough to get back into the housing market, and with prices set to rise, why should homeowners sell?
Doug provides some incredible insight on today’s episode, explaining why housing market sentiment is still so low, what could boost homebuying demand, and where Fannie Mae expects mortgage rates to be in 2024 and 2025. If you’re praying for rates to hit the rock-bottom levels of 2020 and 2021, Doug has some news you NEED to hear.
But rates and prices aren’t the only factors impacting buying/selling. Our huge undersupply of housing is making the market even more competitive as builders remain stuck, forced to pay high interest rates and high labor costs, all during a time when most of America doesn’t want to purchase. How do we get out of this housing market stalemate? Stick around as one of the top minds in housing gives us his answers.
In This Episode We Cover
Fannie Mae’s newest housing market sentiment numbers and what they mean for buying/selling
2024 vs. 2008 and the factors causing so much property purchasing pessimism
The mortgage rate “range” we can expect in 2024 and 2025
The three factors that MUST change if we’re to see a return back to a normal housing market
Recession indicators that are going off, EVEN with today’s solid economic growth
The massive construction constraint that’s stopping more inventory from coming on the market
And So Much More!
Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-184
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