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Freddie Remains Upbeat on Housing Market Despite Q1 Challenges

In its Economic and Housing Outlook
for April Freddie Mac’s economists point out that the spring homebuying season has
become familiar territory.  And not in a
good way.  For the third year in a row
the nation entered the New Year “with great expectations and optimism” but was almost
immediately battered with brutal winter weather and an economic slowdown.

Despite the threepeat in the first quarter of 2015,
Freddie Mac’s chief economist Len Kiefer, says he believes the remainder of the
year should bring economic growth solid enough for robust job gains and accelerating
housing markets.  While the jobs report
in March was disappointing the acceleration in housing is already underway as
evidenced by a 3 percentage point year-over-year uptick in purchase mortgage
applications.

 

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