With new home sales data in for March, we’re currently running 153,000 home sales (non-seasonally adjusted) below what we saw in March of 2007, however, we’re already ahead of last year’s home sales at the same time.
Existing-home sales rebounded 5.1% from the previous month to a seasonally adjusted annual rate of 5.33 million in March. Whereas, new home sales slipped 1.5% from the previous month to a seasonally adjusted annual rate of 511,000 units.
Currently existing home sales are down 6%, and new home sales are down 38% compared to 2007 through March on a non-seasonally adjusted basis.
Mortgage rates are affordable and we expect rates to stay under 4% through the spring. Based on our current forecast, we’re on track and in the mix for the best year in home sales in a decade.
- Feedback
Have a comment or question about this post? Email us to let us know what's on your mind.
Recent Posts
Insights from Company Leaders
Homeownership: A Considerable Achievement Currently Facing Hurdles
We can all remember the great sense of accomplishment felt after achieving a personal goal. For many people, that rush of joy and emotion was felt when they bought a home for the first time. Think about it. The path to homeownership is typically a multi-year process that involves a committed savings plan, a close look at your financial situation and a determined search for the perfect home that fits your needs and budget. Only after rounds negotiations, inspections and paperwork, do you finally get handed the keys to the front door.
"Vice President and Chief Economist, Economic &Housing Research"
How AI for AI Will Change the Industry
When it comes to big data and how companies use it in their internal operations, one phrase comes to mind: 'vocational irony.' While it may be obscure, it's meaning is so common that it's become cliche in narrative fiction. The barefoot children of a cobbler. The broke accountant. The lovesick relationship expert. Or, more aptly, the technology company that provides cutting edge financial models for their customers while their internal machinery remains firmly rooted in the 20th century.
Mortgage Innovation Director Single-Family Strategic Delivery
Who Is Tomorrow's Borrower? What We're Learning Might Surprise You
We're working on ways to provide lenders with a better understanding of future borrowers' hopes and fears, characteristics and challenges as they relate to homeownership.
SVP Single-Family Chief Client Officer
Freddie Mac First Quarter Results Demonstrate Stability and Innovation
Freddie Mac delivered $2.2 billion of comprehensive income this quarter, despite a major change in interest rates.
CEO