WASHINGTON - The Federal National Mortgage Association is predicting that next year home sales - spurred by low interest rates and a pickup in economic growth - will reach their highest level since 1978.

Sales of existing and new homes will rise by about 8% to 4.8 million in 1994, according to the company's chief economist, David Berson.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.