A December report forecasts a continued “lock-in effect” due to high mortgage rates and a low production of multifamily housing.
A press release from Fannie Mae predicts that the “lock-in effect” in the housing market will continue into 2025, “with existing home sales forecast to move only slightly upward from recent multi-decade lows, according to the December 2024 commentary from the Fannie Mae (FNMA/OTCQB) Economic and Strategic Research (ESR) Group.”
Fannie Mae economists had five key predictions for the upcoming year: average mortgage rates will decline, but remain above 6 percent; existing home sales will remain low; new home sales will offer some options to prospective homebuyers — “where they can be built;” home price growth will slow; and multifamily housing “will remain in a holding pattern,” unwelcome news for households seeking smaller, more affordable housing types.
“While we think conditions on a national basis will remain challenging, we’re seeing meaningful regional differences in market conditions, and the homebuying experience — as the adage goes — will continue to be a local one,” said Mark Palim, Fannie Mae Senior Vice President and Chief Economist.
FULL STORY: Housing Market Unlikely to Thaw in 2025 Due to Affordability Challenges and 'Lock-in Effect'
Study: Married People Struggle Least With Housing Costs
Both people who live alone and unmarried partners who live together spend more on housing than married couples.
New Jersey Calls for 85,000 New Housing Units
A state law known as the Mount Laurel Doctrine mandates that each jurisdiction accommodate enough new housing units to meet the local demand for affordable housing.
Report: How Billionaire Buyers Are Making the Housing Crisis Worse
The financialization of the housing sector is driving up costs for ordinary families and keeping available units off the market.
National Parks Layoffs Will Cause Communities to Lose Billions
Thousands of essential park workers were laid off this week, just before the busy spring break season.
Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50
A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
Delivering for America Plan Will Downgrade Mail Service in at Least 49.5 Percent of Zip Codes
Republican and Democrat lawmakers criticize the plan for its disproportionate negative impact on rural communities.
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Balancing Bombs and Butterflies: How the National Guard Protects a Rare Species
The National Guard at Fort Indiantown Gap uses GIS technology and land management strategies to balance military training with conservation efforts, ensuring the survival of the rare eastern regal fritillary butterfly.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
EMC Planning Group, Inc.
Planetizen
Planetizen
Mpact (formerly Rail~Volution)
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research
NYU Wagner Graduate School of Public Service