Housing Downturn has hit Bottom
Press release from the issuing company
Monday, November 22nd, 2010
Total housing sales in 2010 will be down about 8 percent from last year, and will mark the bottom of the downturn, says a monthly report from Fannie Mae economists.
The economic outlook from Fannie Mae’s Economics and Mortgage Market Analysis Group is fairly upbeat looking ahead.
Foreclosures will keep housing sales subdued in the final quarter of this year, the report says, but sales will see gradual improvement in 2011.
