“Nearly every measure of housing market strength – sales, starts, prices, permits, and builder confidence – has been trending upward in recent months and we expect to see gradual but steady growth along these lines in 2013,” said NAHB Chief Economist David Crowe.
In particular, Crowe said that house prices are up nearly 6 percent on an annualized rate over the past 10 months, and that “this has been a trigger for demand to return. People feel comfortable if they buy a house that it will appreciate, not depreciate, in value.”
Other factors that bode well for the housing outlook include low mortgage rates, strong housing affordability, rising household formations and the fact that two-thirds of U.S. housing markets can now be considered improving, according to Crowe.
Posted on January 24, 2013 at 12:04 pm by Zsuzsanna Nagy