Housing Market C-C-C-hanges...Is It Finally Poised for Recovery?

The US housing market seems poised to recover, at least that's the latest forecast from Harvard's Joint Center for Housing Studies.

Predicting the housing market's twists and turns can be a daunting task. And the predictions are not always, well, right.  However,  the Center noted in 2011 that the market would remain sluggish through 2011 and that's been the case so far as we are midway through the year.

The 2012 report, released earlier this month, sited a number of positive factors -- the recent increase in home sales, coupled with low ­inventories of available properties and rising rents and found that these factors point to a turnaround in housing prices. The report also noted that increased home sales could give the construction market a jump start which would in turn give the economy a much needed boost.

But "caveat emptor" (buyer beware), because the recovery, will not be the same all across the nation. Real estate is very localized and each local market will experience a recovery at a different pace. But the signs are promising...only time will tell!

And while your real estate agent may not have a crystal ball, but their experience and knowledge of your local maker can keep you up to date and give you the information you need when buying or selling is in your future.