Tuesday, August 17, 2010

Housing recovery; is the worst behind us?

REALTOR® Magazine-Daily News-The Worst Is Over, Some Experts Conclude
Daily Real Estate News | August 13, 2010 | Share
The Worst Is Over, Some Experts Conclude
With housing recovering slowly, most economists predicted in a recent survey that it will take at least five years for average home prices to climb back to the levels they commanded in 2006.

This year, some hard-hit areas may see another dip, but properties values will most likely rise.

"Softness in the summer months will be followed by firming conditions and momentum as the year unfolds and the economy strengthens," says Robert Denk, an economist for the National Association of Home Builders.

Source: Reuters News (08/12/2010)

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