Fannie FNMA, -2.33% now expects total home sales in 2015 to hit an eight-year high of 5.75 million, according to the company’s July forecast. Fannie’s June estimate pegged 2015 home sales at 5.65 million.
The company raised its forecast for sales of new single-family homes, as well as used residences.
“We expect to see strong sales, lean inventories, and rising confidence through the rest of the year, which should support increased home-building activity and give an added boost to economic growth,” said Doug Duncan, Fannie’s chief economist.
Fannie’s outlook tweak comes on the heels of the Mortgage Bankers Association pumping up its forecast for new home-purchase mortgages to $801 billion this year, up $71 billion from its prior estimate. In 2014 purchase-mortgage originations hit $638 billion.
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