Some believe that our coverage of the housing market at times is too optimistic. Today, we want to report on Freddie Mac’s projections for the real estate market in 2013 as per their latest U.S. Economic and Housing Market Outlook.

Frank Nothaft, Freddie Mac vice president and chief economist, explains:

“Across the nation, most local housing markets have room for sustainable growth, particularly in home construction and sales. As the broader economy heals, expect to see more good news with house prices continuing their recent upward trend, and home sales and housing starts continuing to post strong growth rates.”

The report also offered projections on sales and prices.

Housing Starts and Sales

  • Projecting housing starts in 2013 will increase to 950,000 units or about 22 percent higher than 2012 levels.
  • Existing home sales are expected to pick-up as the house price recovery allows homeowners who have been forced on the sidelines by negative equity to get back into the market.

House Prices

  • While most metro areas saw substantial run-ups in prices during the boom, well above income growth, the subsequent market correction was in many cases more severe.
  • The level of affordability in most markets suggests a continued improvement in home prices, and strong growth in sales and construction.

It seems Freddie Mac is also optimistic about the future of real estate in the U.S.

— Reposted with permission of Keeping Current Matters

About the Staten Island Board of REALTORS® (SIBOR)

The Staten Island Board of REALTORS® (SIBOR) is the largest not-for-profit trade association in Staten Island, N.Y.

SIBOR exists to enhance the ability and opportunity of its members to conduct their business successfully and ethically; and to promote the preservation of the public’s right to own, transfer and use real property.

Comprised of over 1,600 members, SIBOR serves real estate agents, brokers and affiliated professionals throughout the borough and surrounding areas.

SIBOR is the provider of the Staten Island Multiple Listing Service Inc. (SIMLS), which works as a clearinghouse through which more than 250 local real estate firms exchange information on properties they have listed for sale. Together, its members participate in over 3,000 real estate transactions every year.

All SIBOR members belong to the New York State Association of REALTORS® (NYSAR) and the National Association of REALTORS® (NAR).

SIBOR may be reached at 718-928-3220 and viewed online at http://siborrealtors.com. SIBOR may also be visited on Facebook at “Staten Island Board of Realtors,” on Twitter via @SIBOR, and on YouTube at the Staten Island Board of Realtors and RelevantPR channels.

Media Contact: Barton Horowitz

Relevant Public Relations, LLC

Headquarters: 718‑682‑1509

Mobile: 917‑715‑8761

Email: [email protected]