Fannie Mae economists say they
believe home prices “hit bottom” earlier this year and that prices and
sales will continue to move up as more consumers enter the housing
market.
Economists with the mortgage giant are forecasting about a 9 percent
rise in home sales this year, topping out at 4.98 million. They expect
home sales to reach 5.19 million next year—a number that hasn’t been
reached in years. Fannie Mae is also predicting housing starts to rise:
746,000 this year and 888,000 by 2013.
Source: “Fannie: Sales Up 9 Percent in 2012,” RISMedia (Oct. 22, 2012) and