Fannie Mae Economist: Economic momentum will boost housing

Port disruptions and difficult weather patterns across the Northeast suppressed economic activity in the first quarter, but the economy is expected to gain momentum once spring arrives and reach levels previously anticipated by years end.

ESR Groups full-year 2015 growth forecast remains unchanged at 2.8%. Downside risks remain however, as consumer spending may be weaker than expected and the financial markets experience some volatility in anticipation of a Fed rate hike in the coming months.