Get ready for the healthiest spring home-buying season since 2007, according
to Freddie Mac’s U.S. Economic and Housing Market Outlook for March.
The mortgage giant is forecasting low mortgage rates and increasing housing
prices to continue, as well as gradually improving consumer confidence that will
likely boost home sales this spring.
Sales are expected to rise 8 to 10 percent in 2013 compared to 2012 numbers,
Freddie economists report. Freddie Mac also expects housing starts to rise to
950,000 units this year compared to 780,000 in 2012.
"History shows us not all economic recoveries are created equal, and consumer
confidence mirrors this fact,” says Frank Nothaft, Freddie Mac’s chief
economist. “With the spring home-buying season upon us, the recent highs in the
stock market are a welcome signal of better times ahead. But it will be the
gradually declining unemployment rate and steadily improving housing market that
will deliver broad-based economic benefits for Americans and, in turn, support
the overall recovery."