Fitch Ratings expects the housing market to continue growing this year and become much stronger in 2015, according to housingwire.com. Fitch forecasts single-family housing starts to grow 9.5 percent the remainder of the year to 677,000, and new home sales to advance eight percent to 465,000 while home volume will drop five percent to 4.835 million because of fewer distressed homes for sale. Fitch analysts further say, “Growing strength in the economy, employment and demographics should positively influence housing next year. Total housing starts are projected to expand 16% to 1.185 million as single-family starts advance 21% and multifamily volume gain 6.7%. New home sales should improve more than 20%, while existing home sales rise 5%.” In addition, MHProNews has learned Fitch predicts more of the Millennials now living at home will find work and “provide some incremental elevation to the rental and starter home markets.” ##
