Freddie Mac Predicts Home Sales to Decline in Third Quarter 2010 | Mortgage Rates & Trends: Mortgage Blog
Sep 15, 2010
More negative housing news today: according to Freddie Mac’s recently released economic outlook, home sales will drop precipitously in the third quarter of 2010. Freddie predicts 4 million home sales in the third quarter which would represent a 23 percent decline from the prior years and a 20 percent decline from the third quarter of 2009. A lot of this decline is due to the first time homebuyer tax credit which accelerated home sales into the spring at the expense of the summer and fall.
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