Freddie Mac Cuts 12-Month Home-Price Growth Forecast to 1.3%

Freddie Mac lowered its forecast for house-price growth over the next 12 months to 1.3% from 1.7% in its prior outlook, as third-quarter net income rose 17% from a year earlier to $3.235 billion. The company now projects a 1.5% increase over the subsequent 12 months, down from 2.1% in its second-quarter outlook. The revisions cut the expected growth rates by 0.4 and 0.6 percentage points, respectively. The two forecasts cover consecutive 12-month periods. Both still project rising prices, but at a slower pace than the previous outlook.

Source: TokenPost