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What is Causing the Lean Inventory of Houses?
MCLEAN, VA--(Marketwired - Jul 27, 2017) - Freddie Mac (OTCQB: FMCC) today released its monthly Outlook for July, which analyzes the reasons that residential construction is falling behind the housing demand. Yet, despite the lean inventory of homes for-sale, the housing market is expected to improve.
Outlook Highlights
Quote: Attributed to Sean Becketti, Chief Economist, Freddie Mac.
"A decade after the Great Recession, the housing market is rebounding. House prices today are higher than they were at the peak in the summer of 2006, near-record-low mortgage rates have boosted housing demand, and sales volume is robust. The spoiler is the lean inventory of houses for sale. Nationally, just over five months of supply is for sale and hot markets are much tighter than the national average. So far, residential construction is not doing much to fill the gap."
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CONTACT: Ruth Fisher 703-903-3974Ruth_Fisher@FreddieMac.com
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