Housing 2014: Steadier, Sturdier

Housing forecasters believe the sector will be in a better position to boost the rest of the economy in 2014. Families moving up or buying their first homes are expected to play a bigger role in driving sales in the coming year, according to experts like Trulia chief economist Jed Kolko. Many economists believe mortgage rates will continue to rise, but some also believe home loans should be easier to procure. Home price growth is expected to slow. Zillow chief economist Stan Humphries predicts that his company’s national home price index will rise by 3 percent, and 110 economists surveyed by the real-estate site in the fourth quarter yielded an average forecast of a 4.3 percent gain for 2014. Also, home supply and demand are finally in a balance that should encourage building. | Read More