Improving economic conditions rises real estate hopes
Posted on Tuesday, March 20, 2012 at 6:19:20 PM
More than three-fourths or 82 percent of senior real estate executives surveyed at the third annual Akerman U.S. Real Estate Summit expressed confidence and an improved outlook for the industry, a 6 percent increase over last year.
An estimated 50 percent cited the improving U.S. economy as the primary driver for these positive feelings. Approximately 43 percent declared the new availability of credit as the more pressing issue facing the industry.
Consumers considering new real estate purchases may wish to look toward historically low 15 and 30-year fixed-rate mortgages currently being offered. Low interest rates, combined with an increase in residential financing options can help buyers successfully make a purchase.
Metro and rural area markets are seeing slow improvements, as consumers, builders and other real estate experts gain confidence in the strength of the market and the value of a purchase. While the consensus among survey respondent was that the multifamily sector would be the most active real estate transaction in the upcoming year, single-family home sales are also expected to increase.