Fannie Mae’s most recent Economic & Strategic Research Group says moderate growth is expected for the remainder of the year despite a recent slowing of economic gains. Doug Duncan, Fannie Mae’s chief economist, says the resilience of the economy and the consumers in particular that has been demonstrated over the past few years will persist, despite threats to the economy such as the European debt crisis. The Group says the housing market has performed relatively well in the current environment with home sales up 8.0 percent year-over-year and the main measures of home prices firming over recent months. Consumers are the key, according to their analysis. Fannie Mae projects growth to come in at 2.2 percent this year. More here.
