As inflation picks up and interest rates continue to rise, the single family home market “looks most vulnerable” to a more serious correction, according to CBRE’s global chief economist Richard Barkhambut he and other experts agree that the economy appears positioned to continue to support CRE fundamentals in the near term.

In a recent discussion with the firm’s Spencer Levy, Barkham said the Fed funds rate will likely peak in 2023 at 2.5%, and growth will slump from around 3% this year to 2% next year. But the possible residential correction “isn’t a foregone conclusion,” he said, especially if unemployment remains low.

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