Despite lower expectations for the economy’s progress as a whole this quarter, home sale and price trends suggest housing finally represents “a tailwind to growth,” according to a monthly economic outlook released today by Fannie Mae’s Economic & Strategic Research Group.
“The housing market has turned the corner and a sustained recovery is under way,” the report said, despite some significant challenges that remain ahead, including tight lending conditions, uncertainty surrounding mortgage regulations, and the fiscal cliff………………………………………..Full Article: Source