23 Oct Forecast For Fall Housing Market Sees Improvement
There are several factors that play a role in the health of the housing market. When home sellers and buyers decide that its time for them to make a move, everything from their employment to the economy worldwide has an effect. For example, economic instability around the world can raise mortgage rates, which affects how much house you can afford. What you can afford is also affected by how much money you earn and how secure you feel in your employment. Basically, there is a lot to keep an eye on this Fall.
This is why it can be helpful to tune into expert forecasts and opinions. Most of us don’t have the inclination or time ourselves to weigh out all of the moving parts that determine what it will cost to buy our dream house.
So here is what the experts are saying about the upcoming fall market: According to Freddie Mac’s most recent forecast, there may be reason to be optimistic. Even though they say Fall buyers will face a lot of the same challenges that held Summer sales back, Freddie Mac chief economist Sam Khater says there is good news on the horizon. “The good news is that the economy and labor market are very healthy right now, and mortgage rates, after surging earlier this year, have stabilized in recent months,” she says. “These factors should continue to create solid buyer demand, and ultimately an uptick in sales, in most parts of the country in the months ahead.” Good news, indeed.