Homes Sales Improving as Prices Stay Low

By Kyle Chezum Updated on 1/13/2011

1/13/11

Home sales have already increased at the start of the spring selling season, driven by lower mortgage rates and minor improvements in both the job market and consumer confidence.  The National Association of Home Builders expects home sales to increase 26% from 2010 levels to about 405,000.

Home prices will likely continue to decline.  Frank Nothaft, Freddie Mac Chief Economist, predicts a further decrease in property values and an uptick in mortgage rates.  Rates should peak at about 5.25% by the end of the year.

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