ECONOMISTS SEE BRIGHT LIGHTS FOR HOUSING

 


Topic Summary:     
We have all heard some recent facts here and there that housing is turning around, so let's see what seasoned housing industry editor Steve Cook says.

"Housing starts will nearly double and home prices will begin to rise in 2013, with prices increasing significantly in 2014".These rosy predictions come from a new semi-annual survey of 38 of the nation's leading real estate economists and analysts by the Urban Land Institute's Center for Capital Markets and Real Estate. The economists foresee broad improvements for the nation's economy, real estate capital markets, real estate fundamentals and the housing industry through 2014, including:
  • The national average home price is expected to stop declining this year, and then rise by 2 percent in 2013 and by 3.5 percent in 2014.
  • Rents are expected to increase for all property types, with 2012 increases ranging from 0.8 percent for retail up to 5.0 percent for apartments;




The Technicals:   These strong projections are based on a promising outlook for the overall economy. The survey results show the real gross domestic product (GDP) is expected to rise steadily from 2.5 percent this year to 3 percent in 2013 to 3.2 percent by 2014; the nation's unemployment rate is expected to fall to 8.0 percent in 2012, 7.5 percent in 2013, and 6.9 percent by 2014; and the number of jobs created is expected to rise from and expected 2 million in 2012 to 2.5 million in 2013 to 2.75 million in 2014.

Investor Market Hot Last Year and This Year. For those with cash looking for opportunity in lower home prices, last year was very active. According to RealestateEconomywatch.com, investors bought 1.23 million homes last year, accounting for 27 percent of all existing homes bought in America, the greatest annual market share for investors ever recorded. More details are HERE

In Summation:
For the housing industry, the survey results suggest that 2012 could mark the beginning of a turnaround - albeit a slow one. Single-family housing starts, which have been near record lows over the past three years, are projected to reach 500,000 in 2012, 660,000 in 2013, and 800,000 in 2014. The overhang of foreclosed properties in markets hit hardest by the housing collapse will continue to affect the housing recovery in those markets. However, in general, improved job prospects and strengthening consumer confidence will likely bring buyers back to the housing market.

Steve Cook is a Housing Market editor  and commentator and is the moderator of  
Real Estate Economy Watch

 

 

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HORSHAM REAL ESTATE 

John Handschuh Accredited buyers representative,  Seniors Real Estate Specialists®

RE/MAX Action Realty Maple Glen, Pa. 19002 office 215-358-1100 direct 215-358-1108

visit www.johnhandschuh.com for current listings and additional information

john@johnhandschuh.com email questions, requests for information 

 

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5 Comments on Real Estate Market Looking Up ?

APR
06
2012
315,840 Points Outside Blog

John:  This is some good Info,keep it coming.good luck with your business in 2012 and good luck in your area.  E
4:48am • #1
176,666 Points 14 Featured Posts Outside Blog

Seeing some small increases in the entry level homes here in Palm Springs, California.  I do believe 2012 will be a later moving price year. 
4:52am • #2
760,715 Points 37 Featured Posts Outside Blog Called Shot Master

John ....I think this wil end up being a great year!
4:54am • #3
280,996 Points 14 Featured Posts Outside Blog Called Shot Master

this is the start of it, buckle the seat belts for a lot of driving folks to their future homes!
5:27am • #4
APR
08
2012
186,573 Points 1 Featured Post

Thanks for all the support and comments.
6:44am • #5


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John Handschuh Realtor ABR SRES Horsham Real Estate

Horsham, PA

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Address: Attn: John Handschuh, 1126 Horsham Rd, Maple Glen, PA, 19002

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