U.S. citizens report optimistic outlooks for national housing market
Posted on Friday, February 22, 2013 at 2:37:52 PM
With housing markets across America having recently benefited from consumers taking advantage of steady residential lending rates and falling inventory levels, the majority of U.S. citizens believe improved conditions are ahead.
According to a recent Bloomberg National Poll, Americans are confident the national residential real estate sector will continue to grow, by a reported margin of three to one.
"Prices are very steadily, slowly, starting to creep back up," Eric Matheny, a Fort Lauderdale attorney, told Bloomberg. "The housing market is a major part of the economy, so it says something about the strength of the economy."
About half of those surveyed said the housing market will improve in the coming year, although around 16 percent expect conditions to worsen. A third of respondents believe no changes will be observed.
Freddie Mac's recently released U.S. Economic and Housing Market Outlook for February depicted similar sentiment among Americans. Included in the report were economist estimations that housing starts could reach 950,000 units in 2013, marking a projected 22 percent jump above 2012 figures.
The organization's vice president Frank Nothaft stated a number of local housing markets have room for improvement, that may be seen in an increase in home values, sales and housing starts. In addition, existing-home sales are thought to be increasing.
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