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Fed Economist Forecasts Uptick in Single-Family Construction. The housing market may be headed straight for a post-pandemic downturn, but according to Jordan Rappaport, a senior economist at the Federal Reserve Bank of Kansas City, an uptick in single-family home building could soon follow. NAHB reports. Thu, 10/06/2022 - 10:24.
within our annual housing forecast survey (see the results on page 17), I got what I deserved from more than 300 of you. NAHB Chairman's Letter: Local Advocacy With National Significance. House Approves Build Back Better Act; NAHB Opposes Bill . Among a lot of good ideas, patterns emerged.
The Federal Reserve is continuing to tighten its monetary policy, announcing its fourth consecutive 75 basis point rate increase that will push the fed funds rate to a 15-year high, according to NAHB Eye on Housing. However, by 2025, the Fed is forecasting a return to a normalized rate of 2.5% for the federal funds rate. Affordability.
The central bank continues to monitor inflation data, including ongoing, elevated levels of commodities and building materials such as and lumber and OSB. The NAHBforecast has projected higher interest rates as the economy expands. Additionally, the forecast calls for somewhat above-trend inflation over the next few years.
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