While the May employment report offered mixed news on the jobs market, the housing market is expected to continue to help drive economic growth, Fannie Mae Chief Economist Doug Duncan said in a statement.

Recent increases in mortgage rates have not negatively impacted consumers’ outlook on the housing market, and Fannie Mae’s June National Housing Survey is expected to reflect a “meaningful improvement” in home price expectations and buying and selling conditions, according to Duncan.

According to the U.S. Bureau of Labor Statistics, the economy added 175,000 jobs in May, the most in three months. But Duncan noted that revisions of a combined 12,000 jobs in March and April brought the average monthly gain over the last three months down to 155,000 jobs, a significantly lower rate of growth than what was observed at the beginning of 2013.

“Overall, the employment report supports our view of continued modest growth amid headwinds from fiscal policy and tailwinds from housing,” Duncan said. Source: Fannie Mae

Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription