Optimism Builds in Housing Market
by Phil Schembra on January 25, 2012
REALTOR® Mag published an article on January 17, 2012 with the title “Optimism Builds in Housing Market.” This headline is definitely good news! The article states that various market indicators show the real estate market is “on the mend and entering recovery mode.”
Below are signs indicating the positive move of the real estate market:
- Home Sales – Existing home sales are expected to increase 12% this year. In November, pending home sales reached their highest level in 19 months.
- Consumer Confidence – With mortgage rates at record lows and housing affordability high, 71% of Americans say “now is a good time to purchase a home.”
- Housing Stocks – Investors are optimistic about the rebound too. The S&P 1500 homebuilidng index increased 38% since mid-October and has been outperforming the broader stock market.
Source: “REALTOR® Mag,” http://realtormag.realtor.org, January 17. 2012
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