The Real Estate Market has struggled over the last five to six years depending on where you live. However, the current under performing markets across the nation are particularly related to the 'tighter credit and mortgage' conditions which have held back recent buyer and consumer confidence in the marketplace.
The National Association of Realtors, "The Voice of Real Estate" and Lawrence Yun, Chief Economist have noted a sizeable pent-up demand based on important economic factors such as: population growth, employment levels and a doubling-up phenomenon that can't continue indefinitely. This demand could stimulate the market quicker than expected as these conditions improve in 2012 and beyond. More on the Housing & Economic Recovery here...
As the voice of real estate for housing stakeholders, the National Association of Realtors have been actively participating in the housing summit, advocating for practical solutions to bring housing back into a balanced state. So, yes, our economy is under-performing and yes every indication is that we're back to a new normal and aside from the 'ski-jump' that took place in the early 2000's, we have over 80 years of history showing consistent and predicatable appreciation in real estate across the nation.
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