These 3 Freddie Mac facts prove housing will get better
Chill, the winter is over
Freddie Mac chief economist Frank Nothaft just published a blog on their websites laying out where the housing market is headed this spring.
And like Fannie Mae, the outlook is rosy compared to winter. And while the three main facts backing up Nothaft are listed here, there are many more intersting point mentioned on the Freddie Mac blogpost.
Nothaft writes, "as we move to a purchase market, how does the overall housing market stack up?"
"Housing is stronger today than at any point since the Great Recession began and hit bottom in 2009," he said.
A few points from Nothaft that prove housing is going to keep trending upward:
1. Home sales are up 13% since their low point.
Expect home sales to increase about 3% in 2014 as the purchase market continues to evolve.
2. Housing starts are up 50% since they bottomed out.
Expect almost 20% growth for this sector in 2014, which will begin to help ease tight inventories in many markets.
3. House Prices are up 16% since their trough.
Home value increases will continue their positive momentum in 2014, albeit at a more moderate 5% pace. And, in many markets, house prices are still below their peak 2006 levels