(RECAP: After a depressing first few months of 2014, the housing market is finally picking up pace. However, the growth will be slow and the figures will barely manage to catch up with last year’s numbers, Fannie Mae announced in its June economic forecast report. Economists at the government-backed lending giants said that home sales will be 2 percent lower in 2014 as compared with that of 2013. They predicted that while existing home sales will fall on a year-on-year basis, new home sales will improve 12 to 15 percent this year.)