Housing Market RecoveryAugust 9, 2010
Sales activity increased significantly in several regions over the past three months and first-time buyers continue to be a driving force in the marketplace nationwide. Homebuyers with good credit records are now able to obtain mortgage financing,
inventories of unsold homes are flat or declining in many areas, and listed properties are being offered at the lowest prices seen in the past ten years. Another key incentive in today’s home buying market is the government’s $8,000 tax credit for first-time buyers, (someone who has not owned a home for the past three years).
With all these positive signs appearing in the market, the prognosis is a very good one for a strong, healthy recovery in the near future.
There are encouraging signs pointing to a recovery of health in the real estate market. Apartments and other rental properties will probably be the first and fastest to recover; it was predicted by the senior economist for the National Association of Home
Builders.The housing market appears to be on the verge of emerging from the worst real estate market in three years, it was noted in a report resulting from a survey taken by HouseHunt.