Yesterday Freddie Mac came out and publicly reported from their Chief Economist Frank Nothaft that "Across the nation, most local housing markets have room for sustainable growth, particularly in home construction and sales." This comes as Freddie Mac's US Economic & Housing Market Outlook reveals that the level of buyer affordability is showing continued improvement in home prices and strong sales growth and construction. Freddie Mac also expects housing this year to increase to 950,000 units, about 22% higher than 2012 levels. Meanwhile, existing-home sales are projected to pick up as the housing-price recovery allows home owners who had been forced on the sidelines by negative equity to get back into the market.
Facts and quotes have come from the Dow Jones Newswires.
We believe this is the third iteration in which we've seen positive talk about new construction affordability being a driving point. We are though, continuing to wait and see if existing home sales increase or will continue to lag behind new construction sales.
Today's Tidbit: We would like to congratulate local dentist Dr. Vicki Vest. for competing with her black Russian terrier, Zoe in the Westminster Kennel Club Dog Show. Zoe won best in black Russian terrier breed.
We would also like to welcome Rolando McClain to the Huntsville Metro Area as the former Alabama star has bought a 1M dollar property in Clift's Cove subdivision.
Huntsville Metro Area Homes
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