Like most news sources these days, we found some encouraging signs from today?s housing market in a recent report on NBC News.? Amid a financial mess in Washington and a dreary outlook on federal taxes, the housing market seems to be fairing pretty well.
Single-family homes closed out the year in December with the biggest gains in the last six years.? That momentum rolled into the New Year as new home sales in January 2013 jumped to the highest level they?ve been in the last 4-? years.? Soak in those statistics for a minute and think about where we?ve come from in the past six years or so.? The housing market has come quite a long way since it plummeted to a point so low that many feared there was no return to normalcy.
Economists studied 20 major American cities over the course of 2012, of which 19 experienced housing gains.? The top 3 cities include Detroit with an increase of 13.6%, San Francisco at 14.4% and Phoenix leading the nation with a 23% overall market gain.? Much credit for this turnaround goes to the many investors who bought up and either resold or leased thousands of foreclosed homes.
Our real-estate culture is definitely shifting nationwide.? Although many states and cities still continue to struggle with foreclosures, economists and other real estate experts see brighter days are ahead of us.
See the full story here.
*Photo from NBC Nightly News
Source: http://investorsedgeuniversity.com/blog/2013/02/27/rolling-toward-recovery/
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