Outlook

Housing prices continue to show stronger growth than what was previously expected. . . .

Housing's performance is a testimony to the strength of demographic-related demand in the face of Baby Boomers aging in place and Gen-Xers locking in historically low rates, both of which have helped keep housing supply at historically low levels. Homebuilders continue to add to that supply, but years of meager homebuilding over the past business cycle means the imbalance will likely continue for some time. We do expect housing will be supportive of the overall economy . . .

- Doug Duncan, Senior VP and Chief Economist, Fannie Mae

Midyear Takeaways

Good News

 Buyers are active as housing is normalizing

 Prices are rebounding

Reality Check

 Affordability remains a challenge and homeowners have limited options

Outlook

 New construction is growing, offering more options for buyers and sellers

 With rebounding prices, homeowners ready to move are in a solid position