Freddie Mac Forecasts 2.8 Percent Spike in 2018 Home Sales – NMP Skip to main content

Freddie Mac Forecasts 2.8 Percent Spike in 2018 Home Sales

Phil Hall
Jul 23, 2018
A supply and demand imbalance in housing slowed the market’s sales activity during the first half of the year, according to Freddie Mac’s July Forecast

A supply and demand imbalance in housing slowed the market’s sales activity during the first half of the year, according to Freddie Mac’s July Forecast. However, the year’s sales volume is on target to beat last year’s levels.
 
Freddie Mac is predicting that total home sales, both new and existing, will rise by 2.5 percent and home prices are expected to grow 6.7 percent this year. The 30-year fixed-rate mortgage is forecast to average 4.6 percent this year, while total single-family first-lien mortgage originations are expected to fall by around 7 percent this year to $1.69 trillion, due primarily to decreased refinance activity.
 
“Home sales have mostly moved sideways for much of the year, but given the sizeable demand for buying in most markets, there’s hope for a small breakout in the months ahead,” said Freddie Mac Chief Economist Sam Khater. “Mortgage rates have stabilized in recent months, and in some high-cost markets, price appreciation is showing some signs of easing. If new and existing housing supply can increase meaningfully, sales will follow.”
A supply and demand imbalance in housing slowed the market’s sales activity during the first half of the year, according to Freddie Mac’s July Forecast

 
Published
Jul 23, 2018
Mortgage Industry Will Soon Be ARMed To The Teeth

ARM loans might be a saving grace to borrowers who recently purchased a home, but it comes with risks.

Industry News
May 20, 2022
Battle Between Loan Originators Gets Sparkly and Dirty

Flowers is suing both Durosko and Peevey for these pranks, demanding compensation for their harmful acts, but that doesn’t tell the whole story. 

Industry News
May 18, 2022
FirstClose Receives $35M Investment From Lateral

Fintech says it will use the investment to expand its growing financial services footprint.

Industry News
May 18, 2022
Mortgage News Network Launches Podcast On Helping Underserved Borrowers

'Gated Communities' looks at why homeownership gap is increasing, and what lenders are doing to reverse the trend.

Industry News
May 17, 2022
Class Valuation Appoints EVP Of Valuation Modernization

Cristy Conolly will focus on removing bias from the equation in appraisals.

Industry News
May 17, 2022
Open Mortgage Appoints New Chief Financial Officer

Anthony Nolte, Open Mortgage's CFO since 2019, will transition to chief legal officer.

Industry News
May 17, 2022