Today’s Good News comes to us courtesy of CNBC: Residential Housing Ready to Awaken?
After half a decade of withering sales and slumping prices, there are strong and diverse signs that the single-family housing market is poised for a rebound.
In some metropolitan areas, the market has bottomed, with both sales and prices on the rise and foreclosures on the decline.
“It has become increasingly apparent to us that the pieces for a housing rebound next year are beginning to fall into place,” declared Barclays Capital analyst Stephen Kim in a recent note to investors.
The catalysts to recovery are mostly the same: for potential buyers, residential rents have now risen enough to consider buying; existing-home inventory is the lowest in five years, while that of new homes is at a 40-year low; affordability is at a record high; delinquencies have peaked; consumer confidence is on the rise; and job growth is accelerating.
The bottom is in! Recovery is just around the corner! Prices are on the cusp of shooting through the roof, if you don’t get in now, you’ll miss out on the homebuying opportunity of a lifetime!