(Marketwired – Mar 11, 2015) – Freddie Mac released today its U.S. Economic and Housing Market Outlook for March, highlighting some of the positive tailwinds at the start of the spring homebuying season. A video preview, along with the complete March 2015 U.S. Economic and Housing Market Outlook and forecast table, is available here.
- Expect 2015 to be the best year for home sales and new home construction since 2007 when total home sales were about 5.8 million for the year.
- Improved job prospects have started to drive those aged 25-34 back to the labor force, with 76.8 percent employed as of last month, up from 75.9 percent last year.
- Expect rising rents at or above inflation in 2015 to push more would-be homeowners into the market. Rents increased an average of 3.6 percent in 2014 and nearly 11 percent over the last three years.
- Due to some recent upward pressure on Treasury bond yields, the 2015 forecast for the average 30-year fixed-rate mortgage was increased slightly to 4.0 percent for the year.
courtesy of: http://freddiemac.mwnewsroom.com/press-releases/