Chief Economist of Fannie Mae. Opinions expressed herein are my own.
Wash., DC & Cape Coral, FL
Joined July 2015
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Mixed news for the construction labor market in today’s #JOLTS. Job openings rise to an expansion high, but hires and quits both fall in the construction sector. Labor supply shortage continues
Existing home sales fall for the third straight month in June, coming in 2.2% lower year-over-year. Q2 existing sales are down for the fourth time in five quarters. xitter.gq/NAR_Research/status/10…
Total existing-home sales decreased 0.6% to a seasonally adjusted annual rate of 5.38 million in June from a downwardly revised 5.41 million in May. #NAREHS
Doug Duncan retweeted
Our economists made a slight upgrade to their 2018 full-year economic growth forecast. But they also question if the economic expansion is nearing its peak. bit.ly/2Lp0MTT
Doug Duncan retweeted
Just released: NEW #HPSI shows consumer confidence in housing is losing momentum. Home Purchase Sentiment Index slips from previous record high. bit.ly/2NAWI48
We’re about to see what the Fed really means by a “symmetrical” 2% inflation target, as headline PCE hits 2.3% YoY for the first time since early 2017, and core PCE hits 2% for the first time since 2012. xitter.gq/BEA_News/status/101267…
Doug Duncan retweeted
Renters tell us they’re concerned about finding affordable housing in their area. And that may be keeping some of them on the homebuying sidelines. bit.ly/2IxvfN9
Existing home sales fell for the second consecutive month in May and by 3% from May 2017. Inventory continues its annual decline. Tough report. Is it all about supply? Some interest rate impact? What else? xitter.gq/NAR_Research/status/10…
Total existing-home sales decreased 0.4% to a seasonally adjusted annual rate of 5.43 million in May from downwardly revised 5.45 million in April. #NAREHS
Total starts bounced back in May to a near 11-year high, as both SF and MF rose. Tempering the good news for building, total permits fell for the third time in four months. #Census #housingstarts xitter.gq/uscensusbureau/status/…
May ‘18 US total housing starts are up 5.0% to 1,350K (annualized). go.usa.gov/xRuXz #Census
Amid escalating trade tensions and interest rate hikes, we continue to expect 2018 economic growth to come in at 2.7 percent. Full June Outlook: fanniemae.com/portal/media/c…
Newsflash ... NOT: Fed raises rates 25 basis points, to a range of 1.75 percent to 2.00 percent. Tightening continues unabated. xitter.gq/federalreserve/status/…
Doug Duncan retweeted
Mortgage demand hits a three-year low in our latest Mortgage Lender Sentiment Survey. bit.ly/2JPm7Ik #MLSS
Doug Duncan retweeted
"Today’s May jobs report portrayed a solid labor market, with strong, broad-based job gains and upward revisions." - @D2_Duncan. Doug's full #jobsreport comment: bit.ly/2Hc8opB
New home sales fell in April, but rose 11.6 percent year-over-year. The first quarter was revised down 14,000 units to 655,000. New homes available for sale ticked up to the highest level since 2009. #Census xitter.gq/uscensusbureau/status/…
Apr ‘18 US total new single-family #home sales were down 1.5% to 662K (annualized). go.usa.gov/xRuXF #Census
RT @D2_Duncan New home sales fell in April, but rose 11.6 percent year-over-year. The first quarter was revised down 14,000 units to 655,000. New homes available for sale ticked up to the highest level since 2009. #Census bit.ly/2kCQKCE
Housing’s upward grind should continue, despite a lackluster first quarter. We expect home sales to post modest gains both this year and next, as prices rise and affordability declines amid low for-sale inventory. Our full May economic and housing outlook: fanniemae.com/portal/media/c…
Total U.S. housing starts fell 3.7% in April driven by multifamily starts declining 11.3%, as single-family starts were little changed. Overall a disappointment in a supply constrained market. xitter.gq/uscensusbureau/status/…
Doug Duncan retweeted
68% of lenders told us they think accepting gig economy income will help low- to moderate-income borrowers. bit.ly/2Kv1ttI
Doug Duncan retweeted
#HPSI at all-time high as more consumers believe now is a good time to sell. Find out more, including whether or not Americans believe their personal financial situation will improve or worsen over the next 12 months: bit.ly/2HUlvB3.
Doug Duncan retweeted
.@d2_duncan called today’s #jobsreport “lukewarm.” Find out what else he has to say about April’s employment numbers: bit.ly/2HT5Pdt
Doug Duncan retweeted
.@D2_Duncan lowered slightly his forecast for full-year 2018 growth to a still-strong 2.7 percent on weak consumer spending in Q1. However, additional downside risks are emerging, most notably the increasingly heated rhetoric on trade. Read more: bit.ly/2EP8GSr
