Summer Brings Best Housing Market In Decade

A new report from Fannie Mae states that though summer is normally a popular time to buy or sell a home, this season’s strong housing and economic data may make even better. The report cites Jonathan Smoke, chief economist at Realtor.com, in a piece he penned for CNBC.com, as saying this might be the “best summer for the housing market in a decade”. The report also notes Smoke who states that low mortgage interest rates and an unemployment rate of 4.9 percent in July are some of the factors driving home sales. The report states that the unemployment rate remained at 4.9 percent in August, as reported by the U.S. Labor Department reported on September 2. Additionally, Smoke says the employment report affirmed healthy economic fundamentals that support demand for housing. He also points to consumer confidence as a factor that favors those who want to buy a home, according to the report.

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