Categorized | Residential

United States Housing Market Experiences Slow Growth

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The residential real estate market in the United States continues to experience growth, albeit very slow growth. The potential for strong growth in the country took a strong hit over the last week, as the stock market took a very big hit. In fact, the market has dropped more than eight hundred points in the last three weeks.

The rapidly declining European economy is one of the main causes of the Wall Street decline. Economists believe that the possibility of greater decline in Europe is actually the biggest threat faced by the United States residential real estate market.

Despite the troubled stock market and fears that a European crisis could drastically impact the United States economy, the housing market has slowly snuck by and continued its snail-like growth. Economists believe that positive numbers within the residential real estate market will be announced over the next week.

As of right now, residential real estate sales are roughly five percent higher than they were last year. While the numbers continue to improve over last year, they are still well behind where they were prior to the recession. That, however, should not come as a surprise.

The majority of buyers in the market are currently looking for investment homes that can be used as rentals, and then eventually flipped when the market is far stronger than it is currently.

There are some economists that are not as optimistic about the state of the housing market despite its consistent improvement throughout the year. They believe the global economic situation may have a greater impact than some would like to admit

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About Josh Johnson

Josh is the main writer for the Residential category. He also helps out on other categories when needed, mainly the International section.

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