Categorized | Residential

Housing Recovery Has Officially Started According to Economists

Please Share!

Over the last few years, the word recovery has been thrown around a bit too often. Analysts and economists alike have said many times that they believe the residential real estate market looks as if it is finally improving, only for the market to slip and decline even further in the following months.

With that said, however, the most recent trends appear to be different, making the latest claim appear to be the real deal. It finally looks as if the residential real estate market has hit rock bottom, and is starting its recovery phase.

Reports coming from various highly respected sources claim that the decline in housing sales and prices is finally over. They do not believe that the market will post double-digit increases, but rather, it will grow at single-digit rates throughout the next five years.

Those reports indicate that the market will first be led by rental properties. Many have found that being a landlord has become increasingly profitable, as more people are renting than ever before seen. The rental market will drive the market for the first few years.

Multi-family residential real estate properties will continue to post strong results in the next few years, driven mostly by investors. After investors have helped to stabilize the market, it is believed that the single-family housing market will start to see significant gains.

While many families essentially wrote off homeownership in the past few years, the overall attitude towards it is starting to shift. The majority of people planning to buy a house in the next five years are currently not homeowners.

Please Share!

About James Pattric

James writes for the Residential category (along with Josh Johnson) and also heads up the Resources category.

Leave a Reply

Twitter Chat