Total home sales are expected to come in lower than previously expected and will not pick up meaningful into mid 2025. This is according to a new forecast from the Fannie Mae Economic and Strategic Research Group. This new forecast downgrades total home sales to 4.78 million in 2024 and 5.19 million in 2025, with no expected upswing until income growth starts to outpace home price growth and mortgage rates sink closer to the 6% level. The forecast doesn't expect the rates to go below 6% until the end of 2025.

Furthermore, the new forecast warned that near-term slowdown in housing starts is coming because the number of new homes for sale that are already under construction is up, which is likely to delay new projects until the current inventory can be…

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Real estate transactions are getting canceled at the last minute — for the most insignificant reasons.

The question is why?

Buyers are backing out of home purchase deals at a record rate — but real estate agents say deals are falling through on flimsy grounds.

We’re seeing nightmare scenarios where real estate sales are getting canceled at the last minute for the most minute reasons.

So, what’s the problem that’s giving buyers cold feet?

Buyers often back out during the inspection period because they find something they don’t like, but affordability is really the underlying issue. High mortgage interest rates continue to be a drag on home sales, discouraging both potential buyers facing high-rate mortgages and would-be sellers wanting…

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