The US economy appears to be closing in on normal, at least according to Freddie Mac. Their latest outlook shows that the fundamentals – jobs, household formation and affordability will be the drivers for the housing market. GDP grew at a rate of 4.0% in the 2nd quarter, while many leading economists predict a 3.3% growth rate for 2015. Another source of optimism is the labor market which has begun to add jobs at favorable rates after years of sluggishness. The overall result is an economy that is gradually heading back to normal. This should help make our luxury home real estate market normal and healthy as well.
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