0920 ET - Following home price growth of 6% in 2023, a panel of housing experts sees annual national home price growth of 4.7% in 2024 and 3.1% in 2025, according to the latest Fannie Mae Home Price Expectations Survey. The estimates of national home price growth are higher than last quarter's expectations of 4.3% for 2024 but lower than the previous quarter's expectations of 3.2% for 2025. Most panelists believe that reforms implemented to date are likely to have a positive effect on new construction within the next five years, but they were generally split on whether that effect would be "moderate" or "insignificant." Many panelists suggested that speeding up the construction permitting process would have the greatest positive impact on housing supply if broadly enacted. (chris.wack@wsj.com)
(END) Dow Jones Newswires
September 05, 2024 09:20 ET (13:20 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
Comments