Median estimates from 25 economists and analysts found that the market will continue its recovery through 2015 with an expected rise in home sales, according to National Mortgage News.
New-home sales are expected to rise 16 percent and existing home sales are estimated to rise by 5 percent in the coming year. Housing starts will increase to 15 percent, topping the 1.15 million unit mark. The outlook for 2015 is based on a survey containing questions concerning consumer sentiment and income growth, easing lending standards, and historically low mortgage rates.
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