Is the Housing Market Recovering?

In an article I read the other day in the Wall Street Journal economists beleive the housing price free fall has all but stopped and that home prices will start to see a gradual increase over the next four years. The article cites a study of 92 of the top economists and housing analysts. It based there findings on the average answers of them.

We have seen a stabilization in the housing prices across the United States. In the Charlotte region home prices have remained basically flat. But economists beleive that on average by 2014 home prices will have risen an average of 12% from this time nationwide. They contribute a lot of it to the fact that the economy is starting to show signs of recovering with more jobs being created than lost; and consumer confidence on the rise.

In addition they cite that home forecloures filings have DROPPED for the first time in five years. That is a large indication of the economy and market stabilizing. For the past five years it has grown each month and now we are seeing the first signs of a decline in the filings. This will help alleviate some of the excess inventory on the market thus stabilizing prices and helping home prices see the increase they project over the next four years.

Dave diCecco

Realtor/Broker

www.davedicecco.com