Raining Cats And Blogs: Housing Recovery - The Driving Force of Economic Growth For 2013

Housing Recovery - The Driving Force of Economic Growth For 2013

The bursting of the housing bubble plunged the economy into a recession from which it has yet to fully recover. But economists say this could finally be the year that housing lifts us out of the doldrums. Just over half of economists surveyed by CNNMoney identified a housing recovery as the primary driver of economic growth this year. The rest were split fairly evenly between consumer spending, increased domestic energy production and stimulus from the Federal Reserve as major growth drivers. Home sales rebounded to the strongest level in five years in 2012, as home building bounced back to levels not seen since early in the recession. Near record low rates, rising home prices and a drop in foreclosures have combined to bring buyers back to the market. The economists surveyed also forecast that there will be just under 1 million housing starts this year -- roughly matching the 28% rise in home building in 2012.

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The housing market is one of the main keys for a healthy economy along with good employment and trade, it's a global economy.
Posted by David Popoff, Realtor®,SRS, Green ~ Fairfield County, Ct (DMK Real Estate ) over 6 years ago

Thanks for the blog. Keep it going!

Posted by Brenda Swigert, CRS, e-PRO, SRES (Keller Williams Seven Hills Realty) over 6 years ago

I'll agree that the housing market is "in recovery" when homes that are selling are at or above what they were valued at before the economy's crash.

I know I'm a hard nose, but many who are selling today are being forced to take a financial bath because of job transfer, etc.  To me those aren't real recovery sales.

Posted by William S. Cherry, William Cherry Wealth Mangement Coach over 6 years ago