Of a 'Healthy' Market
The housing market is slowly but surely getting back up to speed, but don’t expect it to recover to peak levels,Freddie Mac says in its latest U.S. Economic and Housing Market Outlook.
In the November outlook, Freddie Mac takes into account recent trends, housing indicators, shifting demographic patterns to put together a picture of what makes a “healthy” housing market. According to the GSE’s projections, the current trajectory of the recovery should bring the market to a healthy state by 2017.
According to the data, housing starts should increase to about 1.7 to 1.8 million homes per year, a pace below the 2.1 million peak set in 2005. However, Freddie Mac VP and chief economist Frank Nothaft said the projected pace should be “much more sustainable” given the pace of household formations.
In the November outlook, Freddie Mac takes into account recent trends, housing indicators, shifting demographic patterns to put together a picture of what makes a “healthy” housing market. According to the GSE’s projections, the current trajectory of the recovery should bring the market to a healthy state by 2017.
According to the data, housing starts should increase to about 1.7 to 1.8 million homes per year, a pace below the 2.1 million peak set in 2005. However, Freddie Mac VP and chief economist Frank Nothaft said the projected pace should be “much more sustainable” given the pace of household formations.
Starts in Q3 reached about 790,000, according to the GSE’s data. Learn more...
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