Predictions for the Housing Market
Which way will the wind blow in the housing market? It’s been a little while since housing market experts and real estate agents have enjoyed an average, run-of-the-mill market. Actually, the last millennium is the last time Americans experienced a regular housing market. Times, however, are changing! In fact, the house market predictions indicate times are changing for the better.
Gone are the approximately six years of craziness and about three years of absolute terror caused by the housing market burst. The market everyone’s used to with the matching supply and demand and steady prices, is making its return. No longer will the market be ruled by the global credit crises or the inconsistent national mood swings regarding housing.
The House Market Predictions
In 2011, many underwriting standards toughened handcuffing the housing demand and weakened housing prices. However, last year actually cleaned up some of the problems of the housing market crisis. Thus, allowing the predictions of 2012 to come to true.
This is the year of stabilization. Already showing signs of recovery in the first quarter, more Americans in different areas of the country are investing in property such as multi-family properties. This actually drives the prices up. Granted, the number of foreclosed houses on the market continues to drive prices down, the house prices are predicted to increase until they stabilize.
How Long Until Real Estate Boredom Bliss?
House market predictions suggest another three years until the market returns to what realtors, housing experts and real estate agents are used to. For instance, mortgage standards may loosen in 2013 to allow more credit worthy Americans to purchase property. For now, 2012 is showing buyers beginning to move off the sidelines and moving toward investing in property. At first, there may be a growth in single family dwellings. The multi-family dwellings purchases will start to accelerating more than single family houses as the recovery continues.
For the non-believers or housing market skeptics, there are reasons to take a wait and see approach with all that’s gone wrong lately. Yes, anything can happen including a risk that potential house buyers could return to the sidelines. However, rest assured that even if the housing market dips again, it’ll bounce back and steady itself.
The house market predictions indicate that 2012 is a transitional year with 2015 becoming the year of the normal housing market’s return. This suggests that the worst part of the housing market bubble is definitely in the past.
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