By Bill McBride | calculatedriskblog.com
Update: On Nov 8th I added the MBA forecast.
Towards the end of each year I collect some housing forecasts for the following year, and it looks like most analysts are optimistic for 2015.
The NAR released its forecast Friday: Home Sales Expected to Improve in 2015, but Some Headwinds Still Remain
[Lawrence Yun, chief economist of the National Association of Realtors®] expects the national median existing-home price to rise 4 percent both next year and in 2016. … Housing starts are forecast to hit 1 million this year and reach 1.3 million in 2015, which is still below the underlying demand of about 1.5 million, but should gradually normalize as lenders open their credit box more to builders. New-home sales are likely to total 440,000 in 2014, and increase to 620,000 next year.
Note: Wells Fargo updated their forecast (slight changes).
