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Expiry :2011-06-17
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Expiry :2011 -06-15
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Expiry :2011 -06-15
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Expiry :2011 -06-15
Gradual Housing Recovery Seen in 2011: The U.S. home prices should bottom out in the first half of 2011, followed by a gradual but sustained recovery with first-time homebuyers drawn back into the housing market by low interest rates and affordable prices.
That’s the according to the 2011 housing market forecast from government-backed lender Freddie Mac, released today. The forecast sees a gradually accelerating economic recovery, with stronger growth and job creation in the second half of the year.
The forecast predicts home sales will steadily rise from an annual rate of 4.1 million units currently to around 5.8 million units by the fourth quarter of the year. That’s approximately the same level of sales registered in all of 2007 and nearly 1 million units above the average rates of 2008 and 2009, though still well below pre-crash levels. READ MORE
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