The sun may finally be peeking out from the clouds to shine on the housing market! That’s what several industry experts are saying about the outlook for 2012. Read the article on Reuters.com.
“Jed Kolko, chief economist at Trulia.com, a real estate search and research website, says he sees rising rents, a humble recovery in housing prices and even some unexpected ‘hot’ spots where he thinks price increases will exceed the average this year.” These hot spots include cities such as Boston, San Jose, Austin, Houston and Rochester, New York.
The predicted growth, however slow, could possibly be disrupted by financial events in the coming year. If Europe doesn’t get its act together, the world could see a freeze in lending.
That said, having any positive talk surrounding the housing market is rare, indeed. I’m adding my optimism to the pot and look forward to this year being the beginning of the turnaround.
According to Kolko, in 2012, as a sign of economic strengthening, “Mortgage rates should rise a bit, too. Higher rates for a reason we can cheer.”
Higher rates in 2012? Thankfully, not yet. Since mortgage rates are still at record lows, call a Home Loan Expert today at (800) 251-9080.