Freddie Mac Releases Positive Outlook for 2010

By
Managing Real Estate Broker with FatherTime® Auctions and Real Estate

Freddie Mac’s recently released economic outlook describes a refreshingly brighter view of the year ahead, but the pace of recovery in the forecast is well below the growth that has followed most recessions in the past half-century.

While the housing market showed broad signs of stabilizing in the second half of 2009, risks of retrenchment remain high in the face of the heavy flow of foreclosures and REO properties. As a result, prices in the hardest-hit areas have the potential to be depressed even further. At the national level, Freddie Mac said it expects the housing market to weather the growth in distressed sales without significant setbacks, but risks still remain.

With the extension of the tax credit through spring and its expansion to include existing home buyers, it is likely that additional buyers will accelerate their purchase decisions into the first half of 2010. As a result, a rebound in sales is expected.

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Posted by

Rick Bauer
Broker-Auctioneer, CAI, AARE, GRI, CDPE
Realtor®, GRI, CDPE
314-962-4200 office
314-614-3841 mobile
2850 Lawndell Drive
St. Louis, MO 63144
Father Time® Auctions & Real Estate
rbauer@fathertime.com
www.fathertime.com

 

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Rainmaker
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Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

It is good to see some positive news.  I am hopeful the foreclosures are limited.

Jan 18, 2010 03:06 PM #1
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