Fannie Expects Slow Recovery to Begin By Year End
Housing activity is projected to rebound later this year, but at a slower pace than previously anticipated, according to Fannie Mae’s March 2010 Economic Outlook. The report finds that the recent drop in new- and existing-home sales should be temporary, with sales beginning to improve in the second quarter and trending up through the end of the year. The report forecasts that the overall economy will grow by 3 percent in 2010, although concerns over job and income prospects continue to weigh down consumer confidence.
