Here’s an excerpt from the Joint Center for Housing Studies of Harvard University, which shows optimism about the housing market! Click here to read the full housing market report.
Signs of a housing market rebound have begun to accumulate. Rental demand was up and vacancies down in 2011, leading to a jump in multifamily construction. With the economy steadily adding more jobs, home sales picking up, and new home inventories at record lows, the single-family market may also be reviving. Still, the persistent weakness in existing home prices, the large backlog of foreclosures, and the tight lending environment are restraining the recovery.