2018 is expected to be the year of new-home sales, according to Freddie Mac’s recently released monthly Outlook for September 2017. Roughly 1.33 million housing starts are forecasted for next year, and new-home sales, together with existing-home sales, are projected to rise 2 percent.
“The economic environment remains favorable for housing and mortgage markets,” says Sean Becketti, chief economist at Freddie Mac. “For several years, we have had moderate economic growth of about 2 percent a year, solid job gains and low mortgage interest rates. We forecast those conditions to persist into next year.”
More groundbreaking will soften home prices, though prices are set, still, to rise 4.9 percent, the Outlook shows.
Source: Freddie Mac
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