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Andrew Carnegie



Monday, July 9, 2012

What To Expect From The Housing Market In The Remainder Of 2012

Recession
Recession (Photo credit: Anders V)
The root of the global financial crisis and resulting recession could be summed up in one word: housing. Fueled by cheap credit, shady-style mortgages and over-inflated home prices, the resulting speculative bubble popped hard and sent home prices into a tailspin. Those falling prices ultimately exacerbated all the rest of the problems facing the economy, and there are several long-term consequences from the recessionHowever, the sun may finally be shining on the beleaguered sector. After several years of false starts, the evidence is finally starting to point to the signs of a real recovery. Prices are beginning to rise, new and existing home sales are increasing, and home builders are clearing lots and commencing construction. Overall, 2012 could be the year that housing finally bounces back. Positive Home Sales
After years of struggling to find its footing, the U.S. housing market may finally be hitting its stride. The latest set of data points to a continued recovery in the market. According to statistics provided by the National Association of Realtors, more Americans than estimated signed contracts to purchase previously owned homes in May. The industry group's index of pending home re-sales climbed 5.9% to 101.1. That matched a two-year high reached in March, after falling 5.5% in April. When compared to last year, May pending previously owned home sales jumped more than 15.3%.  ... Continue to read.
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