Freddie Sees 2 Big Problems For Housing

Posted To: MND NewsWire

Freddie Mac analysts see a two-pronged threat to housing sales for the remainder of the year, especially in the previously high-flying western part of the country. The company's economic outlook for August notes that the ongoing lack of housing supply and the not unrelated affordability issues will probably keep a lid on the growth of home sales going forward. "The housing market hit some speed bumps this summer, with many prospective homebuyers slowed by not enough moderately-priced homes for sale and higher home prices and mortgage rates," said Freddie Mac Chief Economist Sam Khater. "These challenges were predominantly seen in expensive markets out West, where demand and sales are beginning to dampen because of weakening affordability." The cooling of the housing market was manifested in...(read more)

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