Freddie Mac predicts sales increases in April

Home sales may pick up in the coming weeks.While the Houston real estate market has remained relatively subdued so far this year, a report from Freddie Mac says that home sales should start to pick up nationwide this month, as the national economy continues to recover.The mortgage giant says that compared to last year, home sales in 2011 should be up 5 percent. The increase in sales, according to the report, will be due to continued high levels of housing affordability and low mortgage rates.”Expect to see a bit of spring in homes sales activity during the second quarter. Sales contract signings for existing homes were up in February, positioning the market for a bounce up going into the traditional homebuying season,” said Frank Nothaft, Freddie Mac's vice president and chief economist.Freddie Mac's housing outlook also cautioned against comparing sales to last year's data, as those numbers were distorted by the influence of the first-time homebuyer tax credit.Houston's jobs market has been one of the strongest in recent months. A recent report from the Department of Labor found the area had added 50,000 jobs in February.Courtesy of 2M Realty News

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