Real Estate Market Poised For Continued Gains

bobbybaldor Real Estate Leave a Comment

A group of economists gathered by the National Association of Home Builders recently offered their housing market outlook for the rest of this year and beyond. And, according to their assessment, the real estate market is becoming more stable and the gains will continue through the end of this year and into the next. “This should be a good year for housing, buoyed by sustained job growth, rising consumer confidence that is back to pre-recession levels and a gradual uptick in household formations,” David Crowe, NAHB’s chief economist, said. “We expect 2016 to be even better due to a significant amount of pent-up demand and an economy that will be entering a period of reasonable strength and consistency.” Crowe estimates that there were 7.4 million lost home sales over the past few years when the housing market was in recovery and many Americans felt uncertain about their jobs and financial situation. A lot of those potential home buyers, who put off their dream of homeownership, should now be ready to buy. Because of this, analysts believe there will be a significant pick up in home sales and household formation this year and into 2016. More here.

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