Daily Real Estate News | Monday, February 25, 2013
The housing market is “on a sustained growth path,” according to the latest economic outlook by Fannie Mae’s Economic & Strategic Research Group.
"One of the key developments for the housing market last year was the general consensus that home prices, on a national basis, bottomed earlier in the year and continued to build momentum, exhibiting robust year-over-year gains unseen since the housing boom," according to the report.
Housing inventories are at the lowest since December 1994 and fewer distressed homes have helped to lift home prices, according to Fannie Mae economists.
Among some of Fannie Mae economists projections for this year:
Source: “Fannie Mae: Housing Is 'on a Sustained Growth Path',” Inman News (Feb. 21, 2013)