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At the
National Association of Realtors convention, their chief economist predicted new home sales will hit a 13-year high in 2020,
up 11%, to 750,000. Existing home sales, at 5.56 million, will be the highest
since 2017.
Freddie
Mac’s chief economist feels “the steady
improvement of the housing market is a reassuring sign that the economy is on
solid ground heading into next year,” noting
“purchase mortgage applications rose 15% over…a year ago.”
Friday,
the National Association of Home Builders blog
posted,“lower
mortgage rates…and a healthy job market” helped push the minority
homeownership rate almost a percent higher than a year ago, to 48.3% in Q3.
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