Housing market improving, speakers say
It may not be evident everywhere, but America’s housing market is starting a slow - and hopefully steady - recovery.
That was the consensus of participants in an April 25 Internet broadcast sponsored by the National Association of Home Builders.
The NAHB’s chief economist, David Crowe, said that although the newest data shows some market softening, it’s most likely seasonal and not the start of a downward trend.
"The aggregate information suggests we're just in a pause mode right now in terms of these measures," Crowe said. “(The) housing outlook continues to slowly brighten."
Continuing positive factors for the U.S. housing market include record-low mortgage rates, affordability in much of the country and many cities making real strides in home values, he said.
"No one is anticipating that an upward path for housing will run in a straight-line trajectory," Crowe said. "The economy is in an uneven recovery and we can expect some corresponding ups-and-downs in the housing market in the months ahead. However, NAHB believes that on the whole, we can expect a slow and gradual recovery in housing starts, home sales and the overall housing market in 2012."