According to Fannie Mae’s Economic & Strategic Research Group, the housing market is still standing strong while in a slower season. Economic activity has taken a slower pace over the last month with many doubts over the fiscal cliff. The recent decrease is not predicted to increase or track in to 2013. Doug Duncan, Fannie Mae’s chief economist said, “we expect growth in the current quarter to moderate from the pace seen last quarter, on the bright side, the housing market has stayed resilient and continues to show signs of a strong, sustained recovery.” U.S mortgage rates are still close to historic lows, and home sales and prices are continuing to grow. More here
