Source: Real Trends Update #1369
Many housing market forecasters have said that 2012 will be the year that housing turns the corner. For those who closely follow housing there is abundant evidence that housing has already turned the corner. Unit sales were up in December for the sixth consecutive month, without any new Federal government assistance (other than record low rates) and according to NAR pending home sales were up 11 months in a row, even though December's numbers appear to have drifted down somewhat.
Prices are still soft in the great majority of markets. However, when one looks at the data more closely there are several regions of the country where segments of the market are seeing price increases. There are segments of markets where inventory is at record lows and where historical precedent indicates prices will begin to rise shortly due to the shortage of inventory.
Each of these factors should bolster housing in 2012. One other factor not accounted for will be the interest of institutional funds in single family "buy-rent-hold" investment pools. Further positive news could come from the GSE attempts to structure bulk sales to investors of their foreclosed inventories.
For further information on Fresno Real Estate check: http://www.londonproperties.com
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