Freddie Mac's Crystal Ball: A Few Predictions for 2013
✉️ Want to forward this article? Click here.
Wondering what the next year holds for the housing market? Freddie Mac’s Chief Economist Frank Nothaft recently made a few predictions about where mortgage rates, home prices and vacancy rates will be by this time next year.
With the disclaimer that the fiscal cliff could dismantle all these predictions, here are a few of the trends that Nothaft sees:
- Mortgage rates will stay low. According to Nothaft, expect rates to stay low for much of 2013, and then rise slightly towards the end of the year.
- Home values will keep going up. Nationally, Nothaft sees a steady rise in home prices, perhaps 2 or 3 percent over the course of the year. The recovery will vary regionally, of course.
- Young adults will move out of their parents’ homes. Nothaft sees unemployment dropping, which could allow recent college grads to finally launch into adulthood, renting and buying homes. These gains could drive more construction and reduce vacancy rates, said the economist.
For Nothaft’s full predictions, check out Freddie Mac.
See other articles related to: freddie mac, housing market trends, mortgage rates
This article originally published at https://dc.urbanturf.com/articles/blog/freddie_macs_crystal_ball_a_few_predictions_for_2013/6442.
Most Popular... This Week • Last 30 Days • Ever
Estate taxes, also known as inheritance taxes or death duties, are taxes imposed on t... read »
In this article, UrbanTurf will explore the considerations and steps involved in buyi... read »
The application may signal movement on the massive mixed-use project.... read »
Washingtonian is reporting that the national bookstore chain will open its doors the ... read »
Penzance has unveiled its striking new plans for Rosslyn.... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro