In Depth Analysis: CalculatedRisk Newsletter on Real Estate (Ad Free) Read it here.

Monday, July 09, 2007

Freddie Mac: 2007 Home Sales to Decline to 6.28 Million

by Calculated Risk on 7/09/2007 01:13:00 PM

From Bloomberg: U.S. Housing Sales to Tumble to Six-Year Low on Rates, Defaults (hat tip Yal)

Sales of new and previously owned homes probably will total 6.28 million, according to the world's second-largest mortgage buyer. That would be the lowest since 6.20 million in 2001.
I'd like to see the details. I've been forecasting 5.6 to 5.8 million existing home sales and close to 0.85 million (or so) new home sales. It sounds like Freddie Mac chief economist Frank Nothaft is in the same range - or actually even lower - now.

Here is the link for Freddie Mac's forecasts. (July 9th isn't available yet).