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Fears of housing downturn may have been overblown

Fears of housing downturn may have been overblown

New York (CNN Business) – The housing market is flashing signs of a bounce back in 2019.

CNNBusiness

Home sales slowed last year as interest rates rose, and home values, which had risen for years, appeared to peak in many parts of the country.

Low mortgage rates should fuel more demand to buy houses
The government-backed mortgage financing company Freddie Mac said Thursday that mortgage rates held steady at 4.45% last week after dropping for six straight weeks. That’s another good sign.

Builders expect a comeback
Two prominent homebuilders — KB Home and Lennar — also seem more bullish. Both reported their latest earnings last week and their executives expressed optimism about the market outlook during their conference calls with analysts.

More info at CNNBusiness:
Fears of housing downturn may have been overblown