Analysis Says Americans Are Ready To Buy
A new analysis of the residential real-estate market says housing is stronger than is being reported and is due for more improvement in the next year. Michael Simonsen, co-founder and CEO of Altos Research, said – though media headlines find weakness and disappointment in the recovery – real-time data paints a much more robust picture. According to Simonsen, demand is high and home prices have recovered much of what was lost during the housing crash. In fact, Simonsen says the housing market has had a strong run over the past few years and Americans are anxious to once again buy real estate. With demand high, inventory growing, and mortgage rates falling lower after a spike last year, there is reason to expect that the real-estate market will continue improving into 2015. Altos Research believes home prices will rise another 7 percent next year and inventory will climb 10 percent. They also forecast rising home sales and healthy growth over the next 12 months.
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