A partial economic rebound tiedto states reopening businesses as they deal with COVID-19 hasfueled a surge within the housing industry, according to FannieMae.
Data for May shows unexpected strength in the housing market, atrend that's expected to continue into June and July, Fannie Maesaid. May sales fell 9.7% over the month, coming in at 3.9 millionannualized units compared with April. That dip is expected torepresent the trough going into summer.
Fannie Mae said it suspects thatmany people who would have bought homes in March and April havedelayed doing so until more recently. Some purchases were alsopulled forward due to low mortgage rates.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
