Economists predict continued struggles for national housing market
September 12th, 2011 7:45am
| Share This |  |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
|
 |
 |
 |
A recent survey conducted by Reuters revealed a growing pessimistic sentiment among economists regarding the country's housing market.Economists responding to the survey agreed that the housing market will continue to fall until reaching a bottom later this year or early next year, while home prices will increase modestly in 2012. However, the experts were unable to determine when the bottom will be reached, debating between the end of 2011 or sometime in 2012.
During this time, according to the report, existing-home sales were expected to increase moderately, which is in line with economists' prediction of a weakened housing market limping along for the next several years.
Experts also point to the large inventory of distressed properties and struggling job market as roadblocks for the sector's recovery.
"There's still a huge pipeline of homes that are going to be foreclosed upon and the weak job market certainly isn't helping," Scott Brown, a real estate expert in St. Petersburg, Florida, told Reuters.
Due to its reduced inventory of foreclosed homes, as well as its healthy job sector, the Houston real estate market has recorded gains in property sales the last several months.
Courtesy of 2M Realty News
Related News Articles in National Real Estate News
- U.S. government makes millions of dollars available to low-income, disabled homeowners
In an effort to ensure that people with severe disabilities don't lose their homes to foreclosure due to an inability to work, the federal government has made $98 million of funding available to more than a dozen housing agencies throughout the country.February 28th, 2013 3:35am - Builders say housing outlook bright
Forecasts about the nation's housing market picking up steam aren't solely the prognostications of survey estimates and so-called experts.January 25th, 2013 3:17am - Texas population reaches new heights
Perhaps due to the affordability of Houston homes, the Lone Star State witnessed a sizeable gain in its population profile last year.January 15th, 2013 5:12am - Houston real estate outperforms national housing trends in November
Although real estate activity often slows in the fall and winter months, these seasonal trends have yet to come to fruition this year.December 24th, 2012 3:33am - Consumers positive about housing market's future
As the national housing market continues to build momentum, a greater number of Americans are feeling more confident in the real estate industry's future.December 11th, 2012 10:41am
My Account
Log in, to view your saved searches and add to your favorite listings.
Forgot your password? Click here!
... So You Can:
- View detailed property information
- Print detailed property flyers
- Save your searches & favorite homes
- Inquire about a private showing
- Map individual property locations
- Share your favorite homes with friends
