MCLEAN, Va. — According to Freddie Mac’s October Analysis, the housing market will continue to firm as home sales rise to 6.0 million for 2019 before increasing to 6.1 million for 2020.
“Economic growth has slowed significantly across the globe, but the slowdown has been more muted domestically. In the United States, the slowdown has been caused by a contraction in manufacturing and a decline in business investment, partly due to weakening business confidence and uncertainty around the lack of a trade deal with China,” said Sam Khater, Freddie Mac’s Chief Economist. “However, the housing market remains on solid ground with housing starts, building permits, existing home sales, and new home sales all outperforming the broader economy.”
Forecast Highlights
Freddie Mac expects to start distributing its forecast on a quarterly basis beginning in 2020. Freddie Mac will continue to distribute its forecast on a monthly basis through December 2019.
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