A partial economic rebound tied to states reopening businesses as they deal with COVID-19 has fueled a surge within the housing industry, according to Fannie Mae.
Data for May shows unexpected strength in the housing market, a trend that's expected to continue into June and July, Fannie Mae said. May sales fell 9.7% over the month, coming in at 3.9 million annualized units compared with April. That dip is expected to represent the trough going into summer.
Fannie Mae said it suspects that many people who would have bought homes in March and April have delayed doing so until more recently. Some purchases were also pulled forward due to low mortgage rates.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
