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Fannie Mae Now Projects Home Prices Will Fall in 2023

The Fannie Mae Economic and Strategic Research Group’s forecast for U.S. home prices in the coming year has turned negative.

house 167734 640smallThe ESR Group now predicts home price declines of 1.5% in 2023. Previously, the projection was growth of 4.4%.

“Over the last few weeks, markets have increasingly–and perhaps reluctantly–reflected the resolve of the Fed to lower inflation via rapid tightening of monetary policy,” Fannie Mae chief economist Doug Duncan said in a statement.

Read the full announcement. 

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