Housing Market Outlook: From Gloom to Bloom
In a news release on the U.S. Housing Market Outlook for March, Freddie Mac said that as we head into the spring home-buying season, continued low mortgage rates, increasing house prices, and gradually improving consumer confidence will help support increased home sales.
Frank Nothaft, Freddie Mac vice president and chief economist said,
“History shows us not all economic recoveries are created equal and consumer confidence mirrors this fact. With the spring homebuying 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.”