“The key factors behind today’s price gains are job growth, falling vacancies, and–above all–rebounding from the huge price declines of the housing bust.” - Jed Kolko, Trulia’s Chief Economist
The big question in any investor’s mind will be if the housing recovery we have seen so far for this year is temporary due to various factors or if it is sustainable. According to an article released by DSNews, the analysts of Capital Economics believe that the modest recovery trend will continue if the mortgage lending standards are slightly loosened. The economists forecast further price growth of 5 percent in each of 2013 and 2014. The report raises the concern on the recovery's dependence on investors and cash buyers and adds that there was no contribution to the recovery from the regular mortgage buyers. It is becoming apparent that the deeply discounted foreclosures and cheap properties are disappearing faster than expected.
So what is the state of the Economy, Property Price, inventory, Economic Confidence and interest rate trend during the week? Click to find the answer.
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