Freddie Mac Hopes for 2nd Half Home Sale Surge

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Posted To: MND NewsWire

While official existing home sales data, released this morning by the National Association of Realtors® (NAR), showed the sector’s losing streak extending to three months and pending sales through May have lost ground for five straight months, Freddie Mac released an upbeat forecast for total home sales this year . The company’s economists said that both the exceptionally low inventory and rising home prices slowed the market in the first half of the year, but they still expect sales to edge slightly above the 2017 numbers. The healthy economy and near full employment have fueled considerable interest in home buying but the sparse listings, escalating home prices, and rising interest rates drained some of the momentum from the market. Still, new home sales have been stronger in the last…(read more)

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