The housing market is â€œon a sustained growth path,â€ according to the latest economic outlook by Fannie Maeâ€™s Economic & Strategic Research Group.
"One of the key developments for the housing market last year was the general consensus that home prices, on a national basis, bottomed earlier in the year and continued to build momentum, exhibiting robust year-over-year gains unseen since the housing boom," according to the report.
Housing inventories are at the lowest since December 1994 and fewer distressed homes have helped to lift home prices, according to Fannie Mae economists. Â
Among some of Fannie Mae economists projections for this year:Â
Source: â€œFannie Mae: Housing Is 'on a Sustained Growth Path',â€ Inman News (Feb. 21, 2013)