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Residential housing market remains resilient [Video]

Posted on Wednesday, April 20, 2016 at 6:02:43 PM

Economists have always watched the residential housing market closely, as this particular segment of the real estate industry can be a great indication of financial wellness or struggle across the United States. Suffice it to say, the average economist who does research residential housing markets have had a positive outlook for several years now.

The latest report from the National Association of Realtors found that home sales once again increased in March, with plenty of reason to be hopeful regarding the marketplace throughout the next couple of years. Not surprisingly, the National Association of Realtors also had a positive outlook for gross domestic product, consumer prices and consumer confidence through the end of next year.

When looking back, the survey had found consumer confidence to be 87 percent in 2014, then rising to 98 percent in 2015, but slipping slightly this year to 95 percent. Looking forward, the National Association of Realtors expects consumer confidence to hit 100 percent in 2017.

Homeowners and individuals looking to purchase a house are facing a strong market, and one that is arguably the best in recent years.