Fannie Mae forecasts 13.5% less home sales in 2022

With rising interest rates and sustained low inventory, Fannie Mae’s Economic and Strategic Research Group has increased the percentage that it believes home sales will drop in 2022 from 2021 to 13.5 percent, in its June forecast. The group forecasts that this year will end with a total of 5.3 million existing-homes sold, down from 2021’s 6.1 million. The market is undeniably changing. Review this month’s Insight article by T3 Sixty CEO Jack Miller with how to successfully respond to a changing market.