Freddie Mac Predicts Biggest Year for Home Sales Since ’07
Author: Brian Honea December 16, 2014
Freddie Mac predicted that 2015 will see the highest level of home sales in the U.S. since 2007 in its December 2014 U.S. Economic and Housing Market Outlook released on Tuesday.
In the report, Freddie Mac looked back at five key consensus predictions for 2014, how they fared, and how they will affect housing and the economy next year. In addition to home sales, the four other areas examined were mortgage originations, home values, rental market, and mortgage rates.
A 4 percent jump is expected for home sales up to 5.6 million in 2015, which would be the highest annual level home sales have experience since 2007, according to the report. A weaker than expected economy and a harsh winter brought down home sales for the first half of 2014 in spite of the healthy gains that were predicted at the start of the year. But home sales and the economy made a strong comeback for the second half of 2014, and analysts expect that recovery to continue on into 2015.