Fannie: Excess Homes Weighing on Recovery

The residential property sector is stabilizing, concur Fannie Mae analysts, who expect the economy to expand 3.1 percent this year.

However, they conclude that a glut of properties on the market will continue to impede recovery. New homes are moving at a record low pace and will remain sluggish, according to the report, but there is some evidence of a pickup in resale activity.

Source: Washington Post (04/20/10)

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