A December report forecasts a continued “lock-in effect” due to high mortgage rates and a low production of multifamily housing.

A press release from Fannie Mae predicts that the “lock-in effect” in the housing market will continue into 2025, “with existing home sales forecast to move only slightly upward from recent multi-decade lows, according to the December 2024 commentary from the Fannie Mae (FNMA/OTCQB) Economic and Strategic Research (ESR) Group.”
Fannie Mae economists had five key predictions for the upcoming year: average mortgage rates will decline, but remain above 6 percent; existing home sales will remain low; new home sales will offer some options to prospective homebuyers — “where they can be built;” home price growth will slow; and multifamily housing “will remain in a holding pattern,” unwelcome news for households seeking smaller, more affordable housing types.
“While we think conditions on a national basis will remain challenging, we’re seeing meaningful regional differences in market conditions, and the homebuying experience — as the adage goes — will continue to be a local one,” said Mark Palim, Fannie Mae Senior Vice President and Chief Economist.
FULL STORY: Housing Market Unlikely to Thaw in 2025 Due to Affordability Challenges and 'Lock-in Effect'

Trump Administration Could Effectively End Housing Voucher Program
Federal officials are eyeing major cuts to the Section 8 program that helps millions of low-income households pay rent.

Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

Ken Jennings Launches Transit Web Series
The Jeopardy champ wants you to ride public transit.

Opinion: Transit Agencies Must View Service Cuts as Last Resort
Reducing service could cripple transit systems by pushing more riders to consider car ownership, making future recovery even less certain.

‘Smart Surfaces’ Policy Guide Offers Advice for Building and Maintaining Urban Tree Canopies
Healthy, robust tree canopies can reduce the impacts of extreme heat and improve air quality.

New Jersey Lawsuit Targets Rent-Setting Algorithms
The state of New Jersey is taking legal action against landlords and companies that engage in what the state’s Attorney General alleges is illegal rent fixing.
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