Fannie Mae says house prices to drop at a SLOWER rate than expected

House prices will fall at a slower rate than expected this year, according to the Federal National Mortgage Association, or Fannie Mae.

The government-sponsored company has revised its housing forecast for 2023 and 2024, predicting a more modest increase.

While in February it predicted that home prices would fall by 4.2 percent this year and another 2.3 percent in 2024, it now estimates that costs will only decline by 1.2 percent in 2023 and a further 2.2 percent the year after.

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