Recovery of the Housing market: Where do we stand?
You have likely heard all kinds of reports recently talking about how the housing market has been showing great signs of recovery, however economists are struggling to agree on where exactly we are at in the recovery process.
The market has been tough to read the past few years. While there is still not an overall consensus on where exactly it stands, most analysts agree that the recovery process has indeed begun.
Regardless, there are various mixed signals that are leaving many people scratching their heads.
Some of the positive signals include:
1) Increasing inventory
2) Construction of new homes is way up
3) Mortgage rates are still low
Some of the negative signals include:
1) A dip in builder confidence
2) Credit is still tight
3) Consumers remain hesitant
While there are certainly many more factors that need to be part of the housing recovery discussion, the above are simply a few examples of why some people are claiming that the worst is behind us, while others remain a bit more cautious.
Where do you see the market heading as we speed through 2013?