Charles Jones Blog
Are things looking up in 2012 for the housing market? According to an article posted on The MReport.com, it appears so! The article states that eleven chief economists on the American Bankers Association (ABA) Economic Advisory Committee are predicting better signs for the economy and home sales. “… The US economy will continue to improve modestly as job growth steadies, along with easing declines in homes prices, sales and starts”. The article goes on to state, “The committee said housing price declines continue to stagger along, a helpful sign even while foreclosures may see resurgence, and that home sales and starts could catch an upward draft seen in 2011 that lasts this year.”
Furthermore, in its January 2012 Personal Finance magazine, Kiplinger predicts, “… 2012 will be the year that prices finally stabilize -- setting the stage for gains in 2013 .” And just over the last few months, the Mortgage Bankers Association has improved its forecast for increases in total origination dollars!
But, like politics, real estate is local. What are you seeing in your communities and your business? Do you think the 2012 housing market will be thumbs up, thumbs down or somewhere in between?
Patrick T. Roe
Senior Vice President, Marketing & Sales