In an article on DS News titled "Housing Forecasts Stay Calm Through Economic Storm", they write about the slow-down in job growth through Spring 2016, and how its anticipated effect has made people question the stability of the housing market. Freddie Mac economists feel differently, however:
“Even with tight inventories and rising house prices, we still forecast 2016 to be the best year for home sales in a decade,” Freddie Mac Chief Economist Sean Becketti said. “The first quarter of 2016 had the second-fastest first-quarter pace of home sales in the past decade, narrowly edging 2015. Home sales typically rise in the spring and summer months so we’re anticipating an acceleration in home sales, which will allow us to surpass 2007's pace by late summer.”
You'll notice that rather than anticipating economic downfall for the housing market, predictions by Fannie Mac are optimistic.
Fannie Mac explains that while the first and second quarters have maintained losses, they expect a hearty rebound in coming quarters.
“Consumers and businesses showed caution at the end of the first quarter,” said Fannie Mae Chief Economist Doug Duncan. “Job creation slowed in April and participation in the labor force gave back some of the recent gains. Nevertheless, the uptick in both hours worked and average hourly earnings should boost labor income and help support consumer spending in the current quarter.”