Existing home sales came in at a whopping 6,850,000, beating estimates with the highest print since 2006. Days on market fell from 36 days to 21 days on a year-over-year basis. Cash buyers remain at
Fannie Mae Housing Remains Worrisome
Dated: May 21 2014
According to the latest Fannie Mae housing report, March and April presented strong reports for consumers, paving the way for a strong second quarter.
“We have downgraded our May forecast slightly from April following a very weak first quarter, but we anticipate economic growth to gain momentum in the second quarter and remain firm throughout the rest of this year,” said Fannie Mae chief economist Doug Duncan.But even with these indicators, Duncan noted, "The housing picture remains more worrisome, with existing home sales, new home sales, housing starts, and multifamily housing all experiencing year-over-year declines."
“We believe this year will likely be a bump in the long-term road back toward normal levels, which we continue to expect sometime in late 2016,” he added. Read More Here...
For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 25+ years in the industry, Mark has gained experience in....
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