Combined with tightening credit for construction lending, which we expect will soon be realized by a slower new project pipeline, we are expecting a significant slowdown in starts later this year,” wrote Fannie Mae economists in their report published on Friday.
Of course, the shortage of homes for sale is currently being exacerbated by the so-called ‘lock-in effect,’ which continues to disincentivize huge numbers of households with low mortgage rates from listing their homes,” wrote Fannie Mae chief economist Doug Duncan in a recent report.
The housing market recession isn’t over just yet—and it could regain momentum as the market moves into the seasonally slower summer and fall months.
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Source: beamstart.com
ENB
Sandstone Group
