The latest Freddie Mac Economic and Housing Market Outlook shows the housing market moving in a positive direction. Frank Nothaft, Freddie Mac’s vice president and chief economist, says “As we start 2014, the housing recovery continues its steady pace. House-price gains will likely moderate from last year’s pace but rise about 5 percent in national indexes.” Noting the unemployment rate remains high, the report says it may be another two years before full employment returns, which is another pivotal indicator. At 5.88 percent, as housingwire.com says, mortgage delinquency rates have been cut in half from their peak, but remain well above the normal rate of two percent. MHProNews.com has learned annual home sales have typically averaged six percent of the housing stock, and Freddie expects that to hit 5.7 percent this year.
