Fannie Mae: Housing to boost economy in second half of 2013

The U.S. economy, which has slowed slightly due in part to the federal sequester, is expected to reaccelerate in the second half of this year, with housing serving as a “significant contributor to growth,” according to Fannie Mae’s Economic Outlook for May.

“Our May forecast predicts that the second half of 2013 will be a little stronger than the first half, despite the slowdown during the past couple of months,” Fannie Mae Chief Economist Doug Duncan said of the economy in a news release.

Duncan points to improving employment numbers, rising consumer confidence and a housing market that “continues to grow at a sustainable, if not yet robust, pace,” and that is expected to act as a “tailwind for the economy throughout the year and into 2014.”

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About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.

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