U.S. Economic and Housing Market Outlook For 2013

Many forecasting agencies released their U.S. Housing Market Outlook for 2013, the highlights are below:

U.S. Economic and Housing Market Outlook For 2013

  • Expect property values to continue to strengthen with most U.S. areas likely to rise by at least 2% in       2013.
  • Mortgage rates are expected to remain near their record lows for the first half of 2013, then rising gradually during the second half of the year.
  • Annual new construction starts expected to be 1,000,000 as the need for new housing rises to 1,200,000 plus so look for vacancy rates to decline.
  • The single family refinance boom will continue into early 2013 but will be less compared to 2012 so look for mortgage originations to decline by 15%.

 

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