Fannie Mae: Housing Market Faring Better Than Economy
According to a new report published by Fannie Mae late last week, the housing market in the United States is currently faring better than the economy as a whole.
Although the GDP grew by just 0.2 percent in the first quarter of 2015, the housing market did a bit better, with March existing home sales at their highest level in two years.
Still, the numbers call for cautious optimism. As Mortgage News Daily points out, “Even though March sales were up, the first quarter fell short of fourth quarter 2014 numbers. New home sales retreated in March but the first quarter overall was the best for that sector since 2008 and pending home sales and purchase mortgage applications both portend a strong spring buying season.”
Image via flickr/Simon Cunningham