Home Sale Contracts Pick Up by 3.5%

Lower rates have encouraged buyers from the sidelines. In Florida, builders are offering incentives that include lot premium waivers and price reductions.

Mortgage Rates Are Rising. Why?

Many forecasts have rates near 6% at the end of this year and falling to about 5.8% next year. The days of 3% and 4% rates appear to be over.

Builder Confidence Edges Higher

Even with affordability headwinds, builders remain optimistic about the future of the market. The share of builders cutting prices held steady at 32% in October. 

FANNIE MAE: CURRENT ECONOMIC FOOTING IS BETTER THAN PREDICTED. The Economic and Strategic Research Group improved its economic outlook for 2024 and 2025 following some recent stronger signs.

The economy is looking stronger than what was previously predicted, due to signs like stronger payroll growth and revisions in national accounts, according to the October 2024 commentary from the Fannie Mae Economic and Strategic Research (ESR) Group.  While the ESR Group stated it still expects eco