Freddie Mac forecast: What experts are saying about Albuquerque’s Real Estate Market

(Transcript Snippet):”Tego: What about the forecast? What are the experts saying?
Tracy: Well, as the market recovers from COVID. The housing market is going to stay healthy and slowly mortgage rates will move up. I don’t expect to see anything very quick on that. Right. but that’s, that’s the forecast from Freddie Mac. So Freddie Mac, I’m not, I’m not I don’t have as big a team of researchers behind me. I’m quoting Freddie Mac. Well, of course, while you’ve got me, I know you’re my number one researcher, and I’m every morning over coffee. I appreciate hearing about it.
Tego: So Freddie Mac does a quarterly forecast where they look into Freddie Mac, you know, as one of the the, the big government sponsored mortgage funds basically. And they always look and like, kind of give a forecast what’s going on and what they’re saying for, you know, right now we’re somewhere around 3.1, 3.2% interest rates that, you know, it fluctuates obviously, but they’re saying through 2021, it’s going to stay pretty close to here in the low mid to low, to mid, to low threes. They’re even saying for 2022, they’re saying 3.7. So still not even getting to that, that 4% even next year. Interesting. the number of home sales they’re predicting to be above last year, last year was a record year, 6.5 million nationally. This year, they’re saying 7.1 in 2022, they’re saying 6.7 million homes sold. So again, they, they are expecting a healthy growing residential real estate market.
Tracy: Let’s talk about the number that I hear the most that people seem to really want to know about when people are saying, I can’t buy a house prices are too high. Well, Freddie Mac says, prices are going to keep going up for the next two years. Yeah.
Tego: And not just Freddie Mac. I’ve seen that on all the air quote experts are saying the same thing, right?
Tracy: So they’re saying home prices in 2021 across the States are expected to average 6.6% up. And we’re definitely seeing that in our market and many others that we watch.
Tego: We’re going to be ahead of that this year. I mean, I’ll, I’m going to say this right now in April of 2021, that we are going to see probably double I’m going to I’m not going to say probably we’re going to see double digit home price growth for 2021. I just, there’s no writing on the wall that says that home prices aren’t going to keep going up. Unless we get that, you know, the so-called black Swan,
Tracy: And they’re saying, they’re going to keep going up in 2022. Now this is really early. It’s April, 2021, where they’re forecasting next year’s home price appreciation. And they’re saying four and a half percent appreciation, 20, 22 nationally. That’s nationally. Yeah. They’re not saying things are going to pull back. And everyone that bought
Tracy & Tego Venturi
Venturi Realty Group
Keller Williams
1119 Alameda Blvd NW
Albuquerque, NM 87114
(505) 448-8888