Freddie Mac predicts home prices will continue to rise in 2013

US house prices will continue to strengthen in 2013 with most residential real estate indice rising by 2 to 3 percent, it is claimed. Long term mortgage rates in the US are likely to remain near their record lows for the first half of 2013, then rising gradually during the second half of the year, but remaining below 4 percent, according to lender Freddie Macs latest outlook report. The firm, which compiles data on major economic and housing and mortgage market indicators and offers forecasts based on those indicators, also predicts that homes sales will keep growing and construction increase. It says that household formation should step up further to a net 1.2 to 1.25 million household increase in 2013 with housing starts up around the million annualized pace by the fourth quarter.

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