Housing Rebound Predicted for 2012: 6 Reasons Why
The New Year is almost here, but what can we expect to see in 2012? Experts say that there have been strong signs that the single-family housing market is ready for a rebound this year. The National Association of Realtors is forecasting that there will be a 5% increase in housing demand in 2012 and home prices will begin to edge higher during the year.
This is due partially to the government’s efforts to support sales and prices in the housing market and finally we’re beginning to see it regain some normalcy. In most metro areas, the market has bottomed and there has been a decrease in foreclosures and a slight rise in home prices.
While there are many skeptics still out there about these predictions, it’s hard to ignore the market catalysts that are currently in place for 2012:
1. Rent is at all-time high
2. Existing-home inventory is the lowest it’s been in five years
3. Affordability is at a record high
4. Delinquencies have peaked
5. Consumer confidence is high
6. Job growth is increasing
What do you think about these predictions? Do they entice you to enter the housing market in 2012?