Fall Market Forecast Sees Improvement Ahead
Recent worries about a potential recession have made news but, according to Freddie Mac's newest housing market forecast, home buyers and sellers shouldn't be too concerned. That's because there are a number of positive trends that will help keep the real estate market healthy through the fall and into 2020. For one, the job market continues to show strength. And that, combined with mortgage rates hovering at three-year lows, will likely keep things moving in the right direction. Sam Khater, Freddie Mac's chief economist, says he expects the fall market to continue to improve. “Despite fears of an economic slowdown, the U.S. labor market stands firm,” Khater said. “Specifically, jobless claims are near historic lows. This strong labor market, along with mortgage rates at three-year lows and consumer confidence holding strong, will set the stage for continued improvement in the housing market heading into fall.” In short, despite news of trade tensions and economic uncertainty, the housing market looks steady and poised for continued gains. More here.