Housing recovery is underway
Posted on Friday, July 13, 2012 at 3:27:17 PM
New real estate figures indicate an improving housing market. About seven years after the housing bubble burst, the economy is starting to recover, The New York Times reports. Figures supporting this conclusion include rising property values, new construction and increasing sales.
Consequently, real estate professionals agree the market is improving in metros that previously suffered the poorest conditions. Here are two testimonies:
"Our sense is that the market is recovering, and we’re extremely confident that it’s not going to get worse," Ronnie Morgan, a San Diego real estate professional, told the news source.
"All bets are off if anything happens to the economy, but apart from that, I think the fundamentals look better than they’ve looked in 17 or 18 years," said Richard K. Green, a professor of real estate at the University of Southern California.
Existing homes sales in May 2012 increased by more than 10 percent compared to the same time a year earlier, The Wall Street Journal reports. As the economy continues to improve, more potential homeowners should turn toward residential financing options such as Home Loan Investment Bank's Standard Fixed Rate Loan to purchase a property.