Tag Archives: Housing likely to contribute to 2013 GDP

Housing will contribute to gross domestic product in 2013, barring some unforeseen double-digit recession or economic downturn, Fitch managing director Robert Curren said Tuesday. Fitch projects single-family housing starts will grow 18% in 2013, with new home sales rising 22% and existing home sales edging up 7%. The average single-family new home price edged up 3.5% in 2012 and is expected to rise 3.8% in 2013, Fitch said. “Attractive home prices, persistently low mortgage rates and a rise in nominal incomes results in superior affordability and valuations,” Curren said. “Mortgage […]