Momentum in Sales End of 2012 And Climbing

In its October Economic Outlook report, the Fannie Mae’s Economic & Strategic Research Group pointed to financial and policy issues in the U.S. and abroad as looming challenges that could restrain meaningful economic growth in 2012.

While the outlook on the economy was uncertain, the assessment for the housing market was more stable. “News from the housing sector is more positive, with various indicators showing continued momentum toward a sustainable, long-term recovery,” said Duncan. “Notably, home prices are inching back into positive territory on a year-over-year basis.”

The research group still maintains the viewpoint that home prices hit bottom earlier this year. In addition to the bottoming out of home prices, the GSE’s research group said record low mortgage rates should encourage more consumers to enter the housing market. As housing activity picks up, the group expects to see total home sales increase 9 percent from the previous year.

More importantly, the low mortgage rate environment, which is being encouraged by the Fed’s stimulus, will continue to motivate more buyers to seek refinancing options. Homeowners will have lower monthly payments through lower interest rates with more to spend, save and use toward debt.

Compliments of Greg Hayden, PNC mortgage
Article from DSN news

The Harriet Martin Team
Sales * Rentals *Property Management
Harriet, Sandy, Maritza, Michelle, Van
Humberto, Vania & Blanca
Fortune International Realty
MLHS South Florida Inc
www.HarrietMartin.com
www.MLHSSouthFlorida.com
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