Tag Archives: Economic and Housing Market Outlook

“The housing market will continue to rebalance as prices adjust to the reality of higher mortgage rates,” First American's Deputy Chief's Economist Odeta Kushi concluded.

Purchase mortgage applications rebounded sharply in April from a recent slowdown, reaching their highest level in almost two years, marking the second monthly surge in purchase apps this year. Combined with continued low mortgage rates, the rise in purchase apps could indicate a strong homebuying season in the spring and summer.

Kiefer, who will be a keynote speaker at the upcoming Five Star Government Forum in Washington, D.C. on March 18, said in Freddie Mac's March 2015 Economic and Housing Market Outlook the big reason for the bright outlook for housing is the improved job market for Millennial home buyers. Analysts agree the future of housing depends on taping into this key demographic. Last year, nearly 20 percent of Millennials were unemployed. That number is slowly decreasing and employment among this generation is inching closer to its peak level of 2008.